WA Grain & Pulse Solutions, an Innisfail, Alberta-based company in the business of grain processing for human and pet food consumption, with facilities in Alberta, Saskatchewan, and PEI, was placed in receivership on April 26 on application by ATB Financial (the "Lender"). The company lists a total of $24.6 million in liabilities, including $11.9 million to the Lender, $8 million to Avrio Subordinated Debt Limited Partnership II ("Avrio"), and $4.7 million to Farm Credit Canada. Pursuant to a commitment letter, the Lender made several loans to the company, including an operating loan facility of up to $10 million (the "Loans"). In 2018, the Lender's turnaround and restructuring group ("TRG") began monitoring the Loans due to the company's poor financial performance and history of requiring financial covenant waivers. Despite several attempts by the company to improve its financial performance, TRG has had to continually monitor the Loans. In April, the company experienced several further setbacks: first, police were called to the company to investigate a theft of more than $200 thousand worth of equipment; second, the Canadian Grain Commission suspended the company's license after the company was unable to pay $6.5 million for unpaid inventory before April 23. Without this license, the company cannot operate its grain business. BDO was appointed receiver. Counsel is MHR Law for the company, Fasken for the Lender, MLT Aikins for the receiver, and McCarthy Tétrault for Avrio.