Uppal Farms & Greenhouses Ltd. et al., Receivership

Uppal Farms & Greenhouses Ltd. et al., which own farmland and operate a farm located in Abbotsford, British Columbia, were placed in receivership on November 5 on application by TD Bank, owed approximately $12.5 million.

TD Bank advanced agricultural loans to the companies which have not been repaid. The companies have defaulted on the loans and a subsequent forbearance agreement, including by allegedly diverting funds, opening an account with another financial institution and refusing to provide a copy of a lease to TD Bank.

The companies are unable to fund payroll, gas has been shut off and the property is in a state of disrepair. 

Deloitte is the receiver.

Counsel is Owen Bird for TD Bank, Ian K. Sorenson Law Corporation for the companies and Liberty Law Corporation for MGB Ent. Ltd. and MKR Growers Ltd.