Aug. 3 at 10:09 PM
$ABVEF the bank seeks to recover
$17 million worth of grain it says was improperly transferred. However, the court delayed a decision on whether to freeze grain at Purely’s Lajord terminal, after Jordan Kambeitz—head of KF Kambeitz Farms and Lajord Inland Terminals—raised concerns. His lawyer, Eric Marcotte, supported the delay. Kambeitz’s father, Lionel, is CEO of Purely’s parent company, Above Food Ingredients.
RBC’s lawyer, Jeff Lee, agreed to pause the grain freeze request to assess the situation. The court had already placed most of Purely’s assets in receivership in March, following the revocation of its grain licenses. Receiver Grant Thornton Ltd. reported that Purely may have overstated its inventory by
$31 million and raised concerns over the alleged grain transfer. RBC claims the grain was supposed to be collateral for a
$35 million loan, while Purely disputes the bank’s version of events.
The game is over. Clear evidence of fraud.
