Winding Up and Dissolution

On December 15, 2016, Scotsburn Co-operative Services Limited ("Scotsburn" or "the Company") held a membership meeting and passed a Special Resolution to wind up and dissolve the co-operative.

The name of the co-operative has been struck off the register at the office of the Registrar of Joint Stock Companies, and in compliance with Section 57 of the act, has been dissolved.

KPMG Inc. has been appointed Liquidator pursuant to the Act.

A Winding-Up Notice was published in the Truro Daily News. A copy of the Winding-Up Notice can be found below.

Winding-Up Notice [PDF 34 KB]

Call for Claims

In accordance with the Act, the Liquidator made a call for claims in order to identify any liabilities of Scotsburn that were not assumed by Agropur. The claims bar date was set for May 24, 2017.

The Call for Claims Notice was published in newspapers in Nova Scotia, New Brunswick, Newfoundland, and Quebec. A copy of the Call for Claims Notice can be found below. The Liquidator has settled all valid claims that were filed.

Call for Claims Notice [PDF 15 KB]

Distributions to Common Shareholders, Preferred Shareholders and Savings Certificate Holders

On July 29, 2017, the Liquidator issued a distribution to Scotsburn common shareholders equal to the par value of their outstanding Scotsburn common shares. At the time of this distribution, the Liquidator was unable to locate a number of the former common shareholders of Scotsburn.

Prior to the appointment of the Liquidator, in February 2017, Scotsburn issued a distribution to preferred shareholders and savings certificate holders for amounts owing pursuant to the respective shareholder and/or savings certificate agreements. At the time of this distribution, Scotsburn was unable to locate a number of its preferred shareholders and savings certificate holders.

As a result of the above, Scotsburn and the Liquidator have been unable to distribute certain funds to common and preferred shareholders and savings certificate holders. The Liquidator is in possession of these undistributed funds.

A list of the common shareholders and preferred shareholders or savings certificate holders (as per the books and records of former Scotsburn that have been provided to the Liquidator) who have yet to claim their funds can be found below.

If you are a former common or preferred shareholder or savings certificate holder of Scotsburn and believe that the Liquidator is holding funds belonging to you in relation to the two aforementioned distributions, you must contact the Liquidator by no later than 5:00pm (AST) on November 10, 2023 in order to claim your distribution. The Liquidator will be appearing before the Supreme Court of Nova Scotia on November 21, 2023 to seek direction with respect to distributing any unclaimed funds remaining in the possession of the Liquidator.

Common Shareholders [PDF 96 KB]
Preferred Shareholders and Savings Certificate Holders [PDF 151 KB]

Contact Information

Annette Chopowick
+1 416 777 8480
achopowick@kpmg.ca