Sunterra in sale process after $35M cheque kiting decision

Joel Dryden of CBC News reports that Sunterra’s Alberta grocery, farming and meat-processing businesses are undergoing a court-supervised sale and investment process under the CCAA, with binding bids and a possible Price family recapitalization still in play after the Court of Appeal upheld a finding that Sunterra engaged in large-scale cheque kiting and is liable to US lender Compeer Financial for $35 million.

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