US EditionB.C. fruit group files for creditor protection after crop losses, ‘liquidity crisis’
- The B.C. Tree Fruits Cooperative is seeking creditor protection after suffering significant crop losses and a liquidity crisis.
- The cooperative's announcement highlighted stone fruit damage due to weather as "the final tipping point" for its financial troubles.
- On August 6, the Canadian Imperial Bank of Canada demanded repayment under the Bankruptcy and Insolvency Act regarding debts owed by the cooperative and its subsidiaries.
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Bowen Island Undercurrent+14 Reposted by 14 other sources
B.C. fruit group, $50 million in debt to bank, files for creditor protection
Premier David Eby said he had called on the federal government to help the province's farmers, writing to Prime Minister Justin Trudeau for help in this "urgent moment."
Financial support for struggling B.C. fruit farmers on its way as grower co-op files for creditor protection
The province will enhance its AgriStability program to raise the AgriStability compensation rate to 90 per cent and double the compensation cap for farmers for the program year.
·Toronto, Canada
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Update: B.C. fruit group — $50 million in debt to bank — files for creditor protection
A co-operative that provided storage and packing services for B.C. fruit growers for almost 90 years has now filed for creditor protection after receiving a bank repayment notice related to more than $50 million in debts.
·Vancouver, Canada
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Leaning Left14Leaning Right1Center2Last UpdatedBias Distribution82% Left
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