Суд Канады одобрил первую продажу земель фермы Monette на фоне спора со страховщиком

Court approves first Monette land sale The megafarm faces another challenge after Saskatchewan Crop Insurance asked for repayment By Karen Briere 4 days ago 2 min read Glacier FarmMedia — There are questions about whether Monette Farms’ 2026 crops are insured after the most recent affidavit from chief executive officer Darrel Monette revealed he owes $1.9 million to Saskatchewan Crop Insurance Corp. The Aug. 10 affidavit, Monette’s fourth in the ongoing Companies’ Creditors Arrangement Act proceedings, said an SCIC audit showed Monette had received an overpayment in the 2023-24 crop year and the organization wanted its money back by Aug. 15 to maintain coverage. In earlier court documents, Monette had said his 2026 crop insurance was in place. His grain, cattle and produce operations entered creditor protection in April after missing payments on a $930 million loan from a group led by Bank of Nova Scotia. Why It Matters Monette Farms is one of North America’s largest privately owned operations with land in both Canada and the United States. All the land, with the exception of a small amount in Alberta, is for sale under a sales and investment process that began at the end of June. Monette and the court-appointed monitor, FTI Consulting, are considering “whether the asserted amount is a pre-filing obligation and whether SCIC is entitled to terminate or otherwise interfere with the group’s 2026 crop insurance coverage on account of non-payment of that amount,” the affidavit said. Read Also No court documents were filed as of Aug. 25 to indicate whether the amount had been paid or the dispute resolved. However, the document also said premiums are generally paid after harvest. Depending on what happens this fall, the issue may be moot. Monette makes first land sale On Aug. 19, a King’s Bench Court justice in Calgary approved the first sale. Byner Cattle Co. of Nevada submitted an offer on about 3,100 acres at Aguila, along with a cold storage facility and seed plant. The sale price was not released but the parcels had been most recently listed for $18.5 million and $5 million, respectively. According to the affidavit, a selected broker contacted 17 prospective buyers but the only offer was the one subsequently recommended. The deal includes the transfer of state land leases, which account for most of the acreage. It also requires approval from the U.S. Bankruptcy Court. Meanwhile, sales in British Columbia got off to a late start because a broker wasn’t selected until the end of July. LandQuest Realty Corp. was chosen to market 11 ranch packages totalling about 45,000 acres. Monette’s previous attempts to sell these ranches were unsuccessful.