GFM Network News


Court approval sought for Morris Industries sale

Rite Way deal the 'highest and best offer received'

Reading Time: 2 minutes The court overseeing creditor protection for seeding equipment maker Morris Industries is being asked to approve a deal for the company’s sale to another Saskatchewan manufacturer. Calgary consultancy Alvarez and Marsal, the court-appointed monitor for Morris, said Tuesday in its latest report to Court of Queen’s Bench in Saskatoon it recommends approval of a sale […] Read more



Some Canadian Exotic Grains customers compensated

Reading Time: 2 minutes CNS Canada — A few producers who did not receive payment from Canadian Exotic Grains Ltd. have been compensated through the Canadian Grain Commission’s Safeguards for Grain Farmers Program, the commission said Tuesday. Canadian Exotic Grain’s grain dealer license was revoked April 26 after the company was unable to pay producers. On June 4, Saskatchewan […] Read more

A stockman rides his horse as he leads another down a road towards the cattle yards in the outback town of Windorah, Queensland, Australia. The Australian agriculture sector says lenders need more oversight and better understanding of the ups and downs of agriculture.

Australian banks face rural lending reckoning

Agriculture borrowers say banks need a shorter leash and call for a compulsory farm debt mediation system

Reading Time: 3 minutes Reuters – Australian potato farmer Tom Fox says he had never missed a bank payment in two decades before a delay sending a shipment to Indonesia during a trade dispute between the countries prompted his lender to force him into receivership in 2013. “I got a letter from the bank lawyers saying I had 12 […] Read more


Farm bankruptcies down, but not out – just different

Reading Time: 2 minutes Winnipeg | CNS Canada – Fewer farms means fewer bankruptcies but with that simple equation comes the realization that the size and tone of those bankruptcies in North America is growing. “They are larger, the amount of debt is greater, the fact that we’re not seeing a higher number doesn’t mean there isn’t considerable distress […] Read more

Pulses stranded at sea as shipping company flounders

Reading Time: < 1 minute CNS Canada — The bankruptcy of a major Korean shipping company has raised some concerns for Canadian pulse crops moving by container, but any disruptions to movement will likely be minor, according to an industry analyst. Hanjin Shipping Co., the world’s seventh-largest container shipping company, declared bankruptcy on Aug. 31, leaving more than half of […] Read more


Farm failures

Big bankruptcies make big headlines, but smaller farms are under pressure too

Reading Time: 5 minutes Their names are widely known, including Wigmore Farms, Broadacre Agriculture, Big Sky Farms, BioExx Specialty Proteins, and others. They’re among the high-profile farms and agri-businesses that have shipwrecked in recent years and applied for creditor protection. Each has a story that’s unique, but their stories seem to share a lot of similarities too. The explanations […] Read more