Licensed elevators and grain dealers must provide security to the Canadian Grain Commission. This security is used to compensate producers in the event they are not paid for the grain they deliver to the licensed company.
ILTA Grain Inc. was previously licensed by the Canadian Grain Commission to operate primary elevators in Belle Plaine, Saskatchewan and Saskatoon, Saskatchewan and as a grain dealer. On July 8, 2019 the British Columbia Supreme Court placed ILTA Grain Inc. under creditor protection under the Companies Creditors Arrangement Act. This resulted in ILTA Grain Inc. defaulting on amounts owed to producers for grain deliveries and triggered the company’s security under the Canadian Grain Commission’s Safeguards for Grain Farmers Program.
Source : Government of Canada