ILTA Grain Inc., Surrey, British Columbia
Order number 2019-52
- ILTA Grain Inc. has been licensed by the Commission as a grain dealer since August 4, 2011, as an operator of a primary elevator located at Belle Plaine, Saskatchewan since October 1, 2017 and as an operator of a primary elevator located at Saskatoon, Saskatchewan since October 1, 2017, which licences expire September 30, 2019.
- ILTA Grain Inc. obtained protection pursuant to proceedings under the Companies Creditors Arrangement Act until August 7, 2019, pursuant to an Order (as may be amended and restated from time to time), of the Supreme Court of British Columbia dated July 8, 2019, and has requested an extension of that order to November 7, 2019.
- The Commission issued order 2018-54 suspending all licences issued to ILTA Grain Inc. and providing direction concerning the disposition of grain effective July 11, 2019, until August 7, 2019.
- The Commission is in receipt of an escrow agreement to which ILTA Grain Inc. is party and which escrows funds in respect of outstanding primary elevator receipts for grain delivered to primary elevators operated by ILTA Grain Inc. prior to July 11, 2019.
- The Commission has authority under section 45(3)(b) of the Canada Grain Act to impose conditions of licences, and has consulted with the ILTA Grain Inc. regarding the conditions imposed in this order.
- The Commission has authority under section 117(b) of the Canada Grain Act to make orders exempting any elevator or grain handling operation from the licensing or any other requirements of the Canada Grain Act or regulations.
- The decision in respect of this order was made at a meeting of quorum of the Commission on August 2, 2019.
The Commission makes the following order:
- Order 2018-54 is revoked.
- The licences of ILTA Grain Inc. to operate primary elevators at Belle Plaine and Saskatoon, Saskatchewan, and to carry on business as a grain dealer, are subject to the conditions that the company does not purchase grain from, receive grain from, or otherwise incur liabilities to grain producers.
- So long as ILTA Grain Inc. complies with the terms of the escrow agreement, ILTA Grain Inc. is exempted from paragraph 104(b) of the Canada Grain Act, thus permitting ILTA Grain Inc. to sell, remove, or otherwise transfer grain or grain products held or stored at its facilities in respect of outstanding primary elevator receipts.
- This order takes effect upon Commission officials confirming receipt of the executed escrow agreement substantially in the form attached.
- This order will remain in effect until 11:59 p.m. September 30, 2019, unless otherwise ordered by the Commission.
Chief Commissioner and Deputy Head
Assistant Chief Commissioner
Signed on: August 6, 2019
- Date modified: