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BC Tree Fruits Cooperative's properties ordered for sale due to $53.2M owed to secured creditors, including $50.8M to CIBC.
The British Columbia Supreme Court has ordered the sale of BC Tree Fruits Cooperative's properties, including facilities in Summerland, Keremeos, and Oliver, due to $53.2 million owed to secured creditors, including $50.8 million to the Canadian Imperial Banking Corporation.
The court-ordered sale process will conclude on Nov. 30, with potential surplus of low-priced fruit leading to Canadians purchasing imported produce.
198 cooperative employees are still owed severance pay.
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Las propiedades de BC Tree Fruits Cooperative fueron ordenadas para la venta debido a $53.2M adeudados a acreedores garantizados, incluyendo $50.8M a CIBC.