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Kalco Farms Ltd. and Kalco Investments Ltd.


Overview

The Bowra Group Inc. was appointed Receiver Manager (the “Receiver”) of Kalco Farms Ltd. and Kalco Investments Ltd. (collectively the “Companies”) on January 14, 2021 pursuant to a Court Order of the Court of Queen’s Bench of Alberta.

Kalco Farms Ltd. produces and markets cereal grains such as wheat, barley, and rye, as well as peas, and canola, grown on fields in the municipal district of Sturgeon and surrounding counties.  The Companies head quarters are located in Gibbons, Alberta.

File Updates

The Receiver, is seeking en bloc offers to purchase the equipment of the Companies consisting of:

  • Balers;

  • Zoom boom;

  • Combines;

  • Tractors;

  • Landrollers;

  • Grain extractors;

  • Skidsteers;

  • Hopper bins;

  • Trailers;

  • Sea-cans;

  • Trucks;

  • Miscellaneous warehouse equipment; and,

  • Office furniture and fixtures.

        (the “Equipment”)

The deadline to submit offers to purchase the Equipment is 4:00pm MST on Friday, March 19, 2021. The Equipment will need to be removed by April 23, 2021. Further information can be found in the Request for Offers to Purchase (“ROP”) Package posted below.

Alternatively, for more information regarding the equipment please contact:

               Nicole Carreau

               (780) 705-0488

               ncarreau@bowragroup.com

Kalco owns approximately 1,170 acres of farmland located in Sturgeon County (the “Lands”). The Receiver is also seeking offers to purchase the Lands of the Companies. The Lands will be marketed and sold separately though Colliers Macauley Nicolls Inc. and GD Auctions & Appraisals (“Colliers / GD”).

For more information regarding the Kalco Lands, please visit the information marketing webpage www.kalcofarmsauction.ca or contact:

               Colliers

               Andrew Simpson, Vice President

               (780) 969-3001

               andrew.simpson@colliers.com

The Receiver, in accordance with its powers under and pursuant to the Receivership Order, is applying to the Court for Orders approving the sale of the Companies’ assets and vesting title to the end purchasers free and clear of all encumbrances. The Receiver’s application is scheduled to be heard at the Edmonton Law Courts at 2:00 p.m. MST on April 14, 2021 via videoconference. All application documents, including the Receiver’s First Report to Court dated April 6, 2021, are posted below.

On April 14, 2021 the Court of Queen’s Bench of Alberta granted 10 Orders vesting title and approve the sale of the 10 lots of land owned by the Companies.

On April 14, 2021 the Court of Queen’s Bench of Alberta granted an Order vesting title and approving the sale of the Companies’ equipment to Ritchie Bros. Auctioneers (Canada) Ltd.

On April 23, 2021, Kalco Farms Ltd. and Kalco Investments Ltd. were assigned into Bankruptcy. The Bowra Group Inc. was appointed Licensed Insolvency Trustee.

Creditor's Information

The First Meeting of Creditors in the Bankruptcy of Kalco Investments Ltd. will be held on the 7th day of May 2021 at 10:00 AM MST via teleconference. Call in details can be found in the creditors package posted below.

The First Meeting of Creditors in the Bankruptcy of Kalco Farms Ltd. will be held on the 7th day of May 2021 at 10:30 AM MST via teleconference. Call in details can be found in the creditors package posted below.

Files

Application Materials – Receivership

Application Materials – Sale and Vesting Order

Application Materials – Interim Distribution

Application Materials – Distribution and Discharge

Receiver's Reports

Court Orders

Report of the Trustee