Monette Group files for creditor protection

A Saskatchewan-based, large-scale farming and ranching business has filed for creditor protection.  

According to a letter sent to landowners on Apr. 21, Monette Group made the filing under the Companies’ Creditors Arrangement Act (CCAA).  

The letter, obtained by farmnewsNOW, was signed by Darryl Monette and stated the action is not a liquidation or bankruptcy, but a necessary process to work with a court-appointed monitor to create a restructure plan for creditor and court approval.  

In the meantime, Monette said farming operations including seeding, crop care, and harvest will continue during the restructuring. Lease agreements remain in force, and rent obligations are being actively managed with the goal of timely payment.