Court extends creditor protection for companies owned by jailed N.B. farmer

Canadian Press
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FREDERICTON — A New Brunswick court has granted a seventh extension of the creditor protection for companies owned by a New Brunswick farmer jailed in Lebanon.

Court of Queen’s Bench Judge Lucie LaVigne has given the companies until March 16 to conclude an agreement with their largest creditor — the Bank of Montreal.

The bank is owed more than $9 million.

Henk Tepper’s lawyer, Bob Creamer, says the judge found that the companies are acting in good faith and with due diligence.

An agreement with the farming operation’s other creditors was reached last month.

The Tepper companies have been under creditor protection since June 2011.

Tepper has been jailed in Beirut since March of last year on allegations that potatoes he exported to Algeria in 2007 were rotten and that he forged trade documents.

Organizations: Bank of Montreal.The

Geographic location: New Brunswick, FREDERICTON, Beirut Algeria

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  • william mackinnon
    March 28, 2012 - 17:09

    This man should have been out of prison & back home to his family long & ever ago What is wrong with the federal gov,t? This is shamefull. This is tipical of gov,t. draging their feet. I wounder if it was one of priminister Harper,s family?There would be no red tape. They would have been home long ago!