Key takeaways
Justice D.R. Mah of the Court of King's Bench of Alberta on Nov. 10 granted Monette Farms a 12-day CCAA stay extension, from Nov. 13 to Nov. 25.
Land-sale approvals are set to come before the court on Nov. 24. The court-supervised sale process is set to end Dec. 4, and filings still don't disclose bid counts, bidders or values.
On Nov. 10, the lending syndicate sent a new Notice of Event of Default and Reservation of Rights over missed budget milestones and cash-flow variances.
Source: RealAgriculture
Justice D.R. Mah of the Court of King's Bench of Alberta has granted Monette Farms a 12-day extension of its stay of proceedings under the Companies' Creditors Arrangement Act (CCAA), from Nov. 13 to Nov. 25. The ruling came at a Nov. 10 hearing, RealAgriculture reported.
The Swift Current-based operation had asked for the time to keep harvesting, close the pending Arizona property sale, and assist court monitor FTI Consulting Canada with the sale process, according to court filings reported by DTN / Progressive Farmer and AgWeb.
The company became insolvent on April 15, 2026, when $829.5 million in loans came due, according to court documents reported by DTN. In his fifth affidavit, president and CEO Darrel Monette said the operation seeded about 385,000 acres in 2026 and harvested about 500,000 metric tonnes, with about 3,000 acres left in northern Saskatchewan and Manitoba.
What's next
Land-sale approvals come before the court on Nov. 24, RealAgriculture reported from the hearing. Monette's counsel also told the court the farm will likely seek another stay extension then.
The sale process is set to end Dec. 4.
On Nov. 10, the lending syndicate sent a new formal Notice of Event of Default and Reservation of Rights, over missed budget milestones and variances in cash-flow forecasts.
The filings don't disclose how many bids came in, who made them, or what they're worth.
What it means: the next dates to watch are Nov. 24, when land-sale approvals are scheduled to come before the court, and Dec. 4, when the sale process is set to end.
We first reported the extension request on Nov. 4. Follow every date on our Monette Farms land sale tracker.
