Canadian Grain Commission Provides 100% Compensation to Eligible Producers for Unpaid Deliveries to LSM Grain Ltd.
Winnipeg, MB – November 14, 2024 – The Canadian Grain Commission (CGC) has announced that it will provide 100% compensation to eligible producers for unpaid deliveries of grain to LSM Grain Ltd.
LSM Grain Ltd., a licensed grain dealer in Saskatchewan, was placed into receivership on November 7, 2024, leaving producers with outstanding payments for grain delivered to the company. The CGC has determined that LSM Grain Ltd. owes producers approximately $40 million for unpaid grain deliveries.
Eligibility Criteria
To be eligible for compensation, producers must meet the following criteria:
- Have a valid contract with LSM Grain Ltd. for the sale and delivery of grain;
- Have delivered grain to LSM Grain Ltd. between January 1, 2023, and the date of receivership (November 7, 2024);
- Have not received payment for the grain delivered;
- Have filed a claim with the CGC within 60 days of the date of receivership.
Compensation Process
Producers who meet the eligibility criteria will receive compensation equal to 100% of the value of their unpaid grain deliveries. The compensation will be based on the CGC’s established grain values.
To file a claim, producers can visit the CGC website or contact the CGC’s office in Winnipeg. The deadline for filing a claim is January 13, 2025.
Additional Information
The CGC is working closely with the receiver to recover funds for producers. The receiver will be responsible for liquidating LSM Grain Ltd.’s assets and distributing the proceeds to creditors, including producers.
Producers with questions or concerns can contact the CGC’s Producer Claims Hotline at 1-866-359-0839.
About the Canadian Grain Commission
The Canadian Grain Commission is a federal agency responsible for regulating the grain industry in Canada. The CGC’s mandate includes ensuring the integrity of the grain marketing system and protecting the interests of producers and consumers.
Media Contact:
Canadian Grain Commission Media Relations 204-983-2504 media@grainscanada.gc.ca
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