LSM Grain Ltd.
Producers compensated 100% for eligible claims
November 14, 2024
Following a review of individual producer claims, the Canadian Grain Commission determined that there were 9 eligible claims totalling $395,587.30 for eligible unpaid deliveries to LSM Grain Ltd. The Canadian Grain Commission will issue 100% compensation from the company’s $2 million security to these producers for their eligible claims for unpaid deliveries. The company’s security is held by Atradius Credito y Caucion S.A. de Seguros y Reaseguros (Atradius)
There were also 17 producers claims outside of the 90-day eligibility period, who are collectively owed over $842,000.
Previous updates
Payment process update
August 20, 2024
We’ve sent out preliminary claim packages to all LSM Grain Ltd. claimants by email. Please review and confirm the details. You have 30 days from the date on the letter to return the signed claim form. If you have questions about your package or haven't received your package, please contact us.
Our goal is to maximize compensation for all eligible producer claimants. At this time, it appears the security will cover amounts owed to producers with eligible claims.
To be eligible for claims against LSM Grain Ltd. security, you must have one of the following:
- grain receipt(s) issued by LSM Grain Ltd. for deliveries of eligible grain made no more than 90 days prior to July 23, 2024 for which no payment was issued
- signed cash purchase ticket(s), such as a cheque with settlement summary, issued by LSM Grain Ltd. for deliveries of eligible grain, dated no more than 30 days prior to July 23, 2024
Licence revoked effective July 23, 2024
July 23, 2024
As of July 23, 2024, LSM Grain Ltd. is no longer licensed by the Canadian Grain Commission. The company’s grain dealer licence at Saskatoon, Saskatchewan has been revoked.
If this company owes you money for grain deliveries, contact our Safeguards for Grain Farmers Program immediately. If you do business with this company on or after July 23, 2024, you will not be protected by security under the Canada Grain Act.
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