MONETTE FARMS land parcels for sale

[bobofthenorth]

Rules to live your life by: There's no such thing as too much cash. Keep a firewall between personal and business assets. Never trust a banker.

The timing of this is no accident. The bank(s) set these things up so that the maximum number of unsecured (translation: little) creditors get screwed. The more unsecured creditors there are the better chance the bank has of getting out whole.

There was a lot of jealousy around Monette Farms but I never met a harder working guy than Darrel. This sux.

[poorboy]

Lots of big companies enter creditor protection so they can get things smoothed out and operate for a while. My guess is that there is a serious cash shortage, but when you think about it I would imagine everyone will get paid.

A lot of that land was bought many years ago and has increased 3-6x. So as long as mortgage payments were not too far behind there is still way more money to be made selling than the mortgage is for. Just takes time and is hard not to sewer the price by dumping too much land on the market at once.

I expect landlords to go short on rent this year, but would think they get paid once the land gets sold. Even making 2-3x what you bought land for 10 years ago is a pretty good paycheck on 200,000 acres.

[makar]

Maybe i am not that stupid the land i rent out is year by year no paper.

[Templeboy]

Lots of big companies enter creditor protection so they can get things smoothed out and operate for a while. My guess is that there is a serious cash shortage, but when you think about it I would imagine everyone will get paid.

A lot of that land was bought many years ago and has increased 3-6x. So as long as mortgage payments were not too far behind there is still way more money to be made selling than the mortgage is for. Just takes time and is hard not to sewer the price by dumping too much land on the market at once.

I expect landlords to go short on rent this year, but would think they get paid once the land gets sold. Even making 2-3x what you bought land for 10 years ago is a pretty good paycheck on 200,000 acres.

That's not how this is going to work...every year or two the land was revalued, to extract the equity to buy more inflated land. In the end, there is inflated land with no equity, and capital gains tax to pay. The receiver general will get their share, and the banks might get theirs, there might be pennies left over. By looking at the lists of land, I am guessing that the only comparable sales in an area were his, or driven up by him.

I personally don't think there is a bunch of appetite to by neighbors to bail this guy out. Lending is going to continue to tighten, if high price land has been bought by a farm, they might just sit and digest it. Efficiency gains can be made by adding land, no point though if it drives up costs in another segment in your financials. just my opinion

[ajl]

100% chance of a screw job on the little guy. Always thus. Seed low inputs feed barley and truck to feedlots of combine. Generate margin while mining the land. The focus will be on raising cash for the big banks who are discovering the hard way that land does not always go up. The land in the desirable areas has been sold, while real price discovery goes on in the undesirable areas. Who else is a buyer at the Pas? That is remote. Anyone that studies history knows that the model employed does not work and there have been many similar attempts go bust in the past. Noble being one of them. Even here on the STO, I had to cash in some off farm investment to keep from running out of cash before the wheat price finally rallied. 8.50 bid here yesterday. Sub 8 was losing money for sure, now looking somewhat better but 2026 is looking shitty now thanks to not having all fert prebought, flooding, and unexpected equipment repairs.

[sumdumguy]

Another year to shaft the locals too.

[ColevilleH2S]

Lots of big companies enter creditor protection so they can get things smoothed out and operate for a while. My guess is that there is a serious cash shortage, but when you think about it I would imagine everyone will get paid.

A lot of that land was bought many years ago and has increased 3-6x. So as long as mortgage payments were not too far behind there is still way more money to be made selling than the mortgage is for. Just takes time and is hard not to sewer the price by dumping too much land on the market at once.

I expect landlords to go short on rent this year, but would think they get paid once the land gets sold. Even making 2-3x what you bought land for 10 years ago is a pretty good paycheck on 200,000 acres.

If the, "Original breach of covenants occurred in Oct /24" they have had 18 months to sort out the cash shortage, but they have failed to do so. What will the next 6 months do that the last 18 hasn't already?

[Sodbuster]

Sure doesn’t sound good for landlords with existing leases, looks like they are at the bottom of the totem pole and likely to get stiffed with no other options.

[bucket]

Everyone should have a look at the creditors list.

[Saskpraireboy]

Quite the read

[url]https://cfcanada.fticonsulting.com/MonetteFarms/docs/Affidavit%20of%20Darrel%20Monette%20(Cassels),%20f iled%20April%2020,%202026%20(no%20exhibits).pdf[/url]