Big Sky Finishers (No. 1) Inc.

November 20, 2009 18:16 ET

Big Sky Finishers (No. 1) Inc. Announces CCAA Order Obtained by Big Sky Farms Inc.

SASKATOON, SASKATCHEWAN--(Marketwire – Nov. 20, 2009) - Big Sky Finishers (No. 1) Inc. ("BSF") announces that it has been informed that on November 10, 2009, a group of related companies, including Big Sky Farms Inc. ("Big Sky"), obtained an Order from the Court of Queen's Bench for Saskatchewan under the Companies' Creditors Arrangement Act (the "CCAA") granting Big Sky various relief under the CCAA, including imposing a stay of proceedings against creditors, appointing a Monitor, and providing an opportunity for Big Sky to prepare and file a proposal for the consideration of its creditors and other stakeholders.

Substantially all of BSF's revenues come from its contractual arrangement with Big Sky. Big Sky has indicated that it will continue to carry on its business in the ordinary course while it reorganizes its financial affairs, with a view to positioning itself for future financial success. Big Sky stated that it will reorganize its historical debt, and intends to pay for all goods and services provided on or after November 10, 2009, in accordance with normal payment terms.

During this time, BSF will continue to carry on in the ordinary course of business, will continue to monitor its relationship with Big Sky, and will review Big Sky's CCAA proposal when received.

Contact Information

  • Big Sky Finishers (No. 1) Inc.
    John Beckton
    President
    (306) 934-2727