Is Monette Farms like Bernie Madoff?

[bucket]

Also remember, over time it seems like those that go through insolvency or bankruptcy get to be known as excellent business people. Those that struggle through to make payments and do right, get shit on and mocked as poor.

[wrongway]

the list of creditors shows that the big boys will get what they are owed, all the unsecured creditors will probably get nothing. tire stores, vets, the coop.
and on and on. What is even worse is that they will still have to deliver goods that have been contracted even though they'll likely never get paid for them.

[jamesb]

Nata Farms just declared insolvency, crumpled under $62M in debt. Farm started in 1960.

From what I know dairy farming is a different deal altogether from other non supply management farms. Quota price for cows is very high and many farms have borrowed to their eyeballs to obtain it. From my perspective we will see the end of supply management in Canada at some point and the industry will look totally different than it is now.

[BighatPete]

[url]https://www.alvarezandmarsal.com/BifanoNata[/url]

Wow, that's a good find. BC is a tough place to be a farmer, it can be 100K an acre and you can't raise your milk prices to make up for the additional cost.

[Taiga]

Armstrong/Enderby where this is isn’t near that high, but Fraser Valley is insane for sure.

[AlbertaFarmer5]

There's a quarter very close to me that sold to a dairy Farmer from BC a few years ago. They're putting up hay here in Western Alberta to truck home. Most of the quarter is muskeg. Not sure if they knew what a muskeg is.

[LEP]

A couple years ago someone posted a screen shot of a title from some of the Monette Farms land south of Swift Current.

Be interesting to see a title search of some of their more recent acquisitions.

[mcfarms]

Was told this morning they were successful in getting soderglen ranches Airdrie operation.
5000 acres supposedly in the 80m. Range

[BighatPete]

Was told this morning they were successful in getting soderglen ranches Airdrie operation.
5000 acres supposedly in the 80m. Range

That price seems high for that. No way they can make money at that price.

[furrowtickler]

The price they paid for land here was very high that no normal farm could ever make it work , but they keep buying and expanding.
just seems limitless