The case for financial protection for growers in the case of bankruptcy has never been more compelling as details emerge after the demise of BC Tree Fruits Cooperative on July 26, 2024. The Fruit & Vegetable Growers of Canada has worked tirelessly on this issue for years. 

The monitor Avarez & Marsal Canada has published a list of secured and unsecured creditors. Secured creditors include the Canadian Imperial Bank of Commerce which is owed $50.8 million. Filmore Construction Management is owed $2.3 million. And Glacier Heights Refrigeration is owed $63,000.

The unsecured creditors are in the dozens of growers, including several input suppliers. They include:  N.M. Bartlett Inc. ($2.7 million); Bayer CropScience Inc. ($335,000); AgResource a division of Cargill Ltd. ($347,000); Great Little Box Company ( $259,000); Crown Corrugated Company ($272,000). 

In total, unsecured creditors are owed a total of $12,117,000. 

The total amount owed to secured and unsecured creditors equals $65,354,000.  

Link to the entire list here: Creditor List (August 13 2024).pdf (alvarezandmarsal.com)

Source: Avarez & Marsal Canada Inc.