Eligible producers receive 100% compensation for unpaid deliveries to ILTA Grain Inc.

Jan 06, 2020

WINNIPEG - Eligible producers who were not paid for grain delivered to ILTA Grain Inc. will be fully compensated through the Canadian Grain Commission's Safeguards for Grain Farmers Program. Payments have been issued and will be delivered in the coming days.

ILTA Grain Inc. was put under creditor protection in July 2019, resulting in the company defaulting on amounts owed to grain farmers for unpaid deliveries. The Canadian Grain Commission subsequently assessed 271 individual claims from producers, the largest number ever received against a company's security.

Following a review of individual producer claims, the Canadian Grain Commission determined that 222 were eligible for over $11 million in compensation. These claims are fully covered by the security posted by ILTA Grain Inc. under the terms of its licences.

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Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

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