Big Sky Farms is expected to file its plan of arrangement in a Saskatoon court Dec. 18.
The hog producer, which is based in Humboldt, Sask., has been under court protection from its creditors since Nov. 10 and was supposed to have a plan ready by Dec. 9.
The court granted an extension last week.
Big Sky chief executive officer Casey Smit has said it’s not uncommon to ask for an extension when dealing with a complex restructuring.
Big Sky owes its creditors $96 million, including $71 million to senior secured lenders, $10 million to subordinated secured lenders and $15 million to unsecured creditors such as farmers who delivered feed.
Packages began going out to creditors last week to start the claims process. Every creditor must supply written proof of claim to Ernst & Young, the court-appointed monitor, before 5 p.m. Jan. 15.
The claims procedure and forms are also available on Ernst & Young’s website.
Creditors are expected to vote on the company’s plan in February.
