Canadian Commission Suspends ILTA Grain’s Licenses
Company was granted creditor protection Monday by British Columbia’s Supreme Court as it tries to restructure
The Canadian Grain Commission (CGC) on Thursday suspended ILTA Grain Inc.'s grain dealer's license and its primary grain elevator licenses for elevators at Belle Plaine and Saskatoon, SK, Remi Gosselin, CGC’s manager of corporate information services, said in an interview the same day.
According to AgCanada.com, the Surrey, BC-based company was granted creditor protection Monday by British Columbia’s Supreme Court as it tries to restructure.
An affidavit filed July 7 noted “increasingly challenging international trade conditions” in recent years affecting ILTA’s business in export markets including India, China and Saudi Arabia.
Current management will continue to operate the business and will lead the restructuring process, the company said.