Search
Better Farming OntarioBetter PorkBetter Farming Prairies

Better Farming Ontario Featured Articles

Better Farming Ontario magazine is published 11 times per year. After each edition is published, we share featured articles online.


Quality Meats creditors meeting scheduled for later this month

Wednesday, May 7, 2014

by JIM ALGIE

The first meeting of creditors of the officially-bankrupt Quality Meat Packing Limited is to be held May 26 beginning at 10 a.m. at the Sheraton Centre Hotel in downtown Toronto, a bankruptcy trustee’s notice posted late Tuesday says.

Following a hearing earlier on Tuesday, Ontario Superior Court Justice D. M. Brown appointed A. Farber and Partners Inc. trustees to supervise liquidation of Quality Meats’ assets. The judge deemed the company bankrupt, effective May 6. A copy of the order is posted on the receiver’s website at Farberfinancial.com.

The bankruptcy declaration followed a month of turmoil after the 83-year-old company effectively ceased operations and sought court protection, April 3. In recent years, Quality Meat Packing Ltd. and a related company, Toronto Abattoirs, have processed as much as a quarter of the hogs marketed weekly in Ontario.

The company ceased operations owing millions of dollars to Ontario hog farmers for livestock delivered in the final week of normal course operations. A statement on the receiver’s website says company employees have been paid wages and vacation pay up to and including May 5.

The two companies employed more than 500 people processing and marketing Legacy-brand pork products in Canada and internationally.

Judge Brown’s May 6 order appoints Farber to secure assets of the bankrupt companies. It empowers the receiver “to market any and all of the property.”

As well, the trustee is to assist the company in preparing a “statement of affairs” required by terms of the Bankruptcy and Insolvency Act within five days, Farber says in its website statement. The receiver is to contact creditors and employees by mail with a formal notice about the process by May 16.

Preliminary lists of creditors and their debts published on the Farber website shows more than 200 creditors and debts outstanding of more than $40 million. They include more than 80 livestock truckers and Ontario hog farmers. One estimate shows outstanding debt to hog farmers of about $8.6 million.

Two major creditors are the Toronto Dominion Bank and a holding company involving Quality Meats president David Schwartz. Schwartz’s holding company, Quality Meat Packers Holdings Ltd., is not identified in bankruptcy proceedings except as a creditor claiming security on debts of more than $19 million.

Farber’s statement advises creditors that amounts listed to date in the case are “estimates only based on the company’s books and records.”

“Creditors will have the opportunity to file a proof of claim for the actual amounts,” the receiver’s statement says. BF

 

Current Issue

June/July 2025

Better Farming Magazine

Farms.com Breaking News

Ontario Funds 28 Agri Food Research Projects

Thursday, July 17, 2025

Ontario has announced $5.4 million in funding for 28 innovative research projects at the University of Guelph, aiming to protect farmers, enhance the food supply chain, and foster environmental sustainability. This investment comes from the Ministry of Agriculture, Food and Agribusiness... Read this article online

Boost Crop Yields with Smart Fertilization

Thursday, July 17, 2025

Soil testing is a valuable tool for managing crop nutrition, especially in Ontario where nutrient levels play a crucial role in crop yields. According to the Ministry of Agriculture, Food and Rural Affairs (OMAFA), fertilizer recommendations based on soil test results can vary depending on... Read this article online

HJV Equipment Now Full-Line PTx Trimble Dealer

Thursday, July 17, 2025

HJV Equipment is thrilled to announce its designation as a full-line PTx Trimble dealer. This strategic move enhances the company’s capability to offer advanced precision agriculture technology, catering to the growing needs of modern farmers. As part of this expansion, HJV Equipment... Read this article online

Ontario Tender Fruit Season off to a Strong Start

Monday, July 14, 2025

Ontario's 2025 tender fruit and table grape season is off to a promising start reports the Ontario Tender Fruit and Fresh Grape Growers. While the weather may be too hot for some farmers, it has has been ideal for producing a sweet and juicy crop. A cooler-than-usual spring delayed the... Read this article online

BF logo

It's farming. And it's better.

 

a Farms.com Company

Subscriptions

Subscriber inquiries, change of address, or USA and international orders, please email: subscriptions@betterfarming.com or call 888-248-4893 x 281.


Article Ideas & Media Releases

Have a story idea or media release? If you want coverage of an ag issue, trend, or company news, please email us.

Follow us on Social Media

 

Sign up to a Farms.com Newsletter

 

DisclaimerPrivacy Policy2025 ©AgMedia Inc. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Back To Top