Working closely with Alvarez & Marsal Canada Inc., the court-appointed Restructuring Officer, along with participating lenders and regulatory authorities, PBFC has met the conditions required to resume normal activities. The FAA has also played a vital role in supporting communication between stakeholders and ensuring the process remains transparent.
A major development includes the hiring of Cody McBride as the new PBFC supervisor. With a strong background in livestock, finance, and feeder associations, McBride is expected to lead the co-op effectively into a stable future. Profit payments are being processed, and lending operations are scheduled to begin again on Monday, May 26, 2025.
While challenges remain, including the need for the election of a new independent Board of Directors, the progress made so far is commendable. FAA thanked Minister Sigurdson and her team for their unwavering support of the FALGP and the agriculture community.
Special recognition was given to FAA’s Lynda Miller and Philipp Lammerding for their significant contributions during this difficult period. Moving forward, the FAA is committed to collaborating with the government to further improve the FALGP and continue supporting Alberta’s agriculture sector.