Receiver to Reopen East Coast Commodities

The Nova Scotia Farm Loan Board has instructed Deloitte and Touche Inc. to reopen the East Coast Commodities facility located in Steam Mill, Kings Co. Deloitte and Touche is receiver and manager of East Coast Commodities Inc., which has been closed since it filed for bankruptcy in April.

The receiver will begin preparations for the reopening immediately and expects it to be operating on a restricted basis by Aug. 8.

"The facilities will serve the agricultural community, which has just begun to harvest grain," said Leo Cox, chairman of the Farm Loan Board. "The board feels this is important because of the high expectations for this season's crop."

The receiver will manage the facility and hire staff for its operations, including handling, drying and storing grain for farmers for this season.

The receiver and the Nova Scotia Farm Loan Board continue to seek a purchaser to operate East Coast Commodities. They are in discussions with several prospective buyers.

The Nova Scotia Farm Loan Board is a corporation of the Crown. It operates under the Department of Agriculture and Fisheries.