Creditors will meet at a Saskatoon hotel Feb. 8 to vote on the future of Big Sky Farms.
The Humboldt, Sask.-based hog company, one of Canada’s largest, owes more than $111 million to lenders, suppliers, farmers and the provincial government.
Unsecured creditors hold about $32.5 million of that debt.
A plan approved by the Court of Queen’s Bench in December would see about 15 percent of that money paid, if the creditors also approve it.
Those owed less than $4,000 would get most of their money back while others would see as little as 10 cents on the dollar.
Creditors unable to attend the meeting can vote by proxy provided they notify the court-appointed monitor, Ernst & Young, by Feb. 5.
The company has continued to operate while under court protection and chief executive officer Casey Smit has said that it has had good co-operation and support from suppliers, including farmers who deliver feed grain.
