Coonman you can slide a wooden mink stretcher in a wire stretched coon to pin a hole shut.

Well everyone knows things are not good but I missed that. Where does it say doors closing Oct. 31? Do not see on NAFA site.

im waiting on them to make my check good like they said they would. supposed to get sorted out in oct. still got a couple days. I dont believe that company was run by deadbeat liars. at least I wont believe it till thursday

You are out of luck like the rest of us minus Beav cause he was a company man and got his money. LLL

The Alberta Outdoorsmen Forum is the only other place I've seen this posted.

http://www.outdoorsmenforum.ca/showthread.php?t=371053

I read in an earlier article on NAFA that being a Canadian company chapter 11 isn't an option beings how it is an American Legal avenue. In that article it was somewhat laid out how a Canadian company would go through the process. I cant exactly find the thread as there are several million NAFA threads going right now. Maybe the writer of that or someone who is aware of Canadian laws on that will chime in.

Coonman it has been stated on here that Gary has said its not worth the time to board a MUSKRAT. Nothing else. To which I added the joke of forcing your young ones to run a rat line and just amass a huge stock of them. Hope that clears things up.

"The equivalent of a Chapter 11 bankruptcy in Canada would be either a Division I Proposal or a CCAA filing. A Division I Proposal can be filed by either a company or an individual and a CCAA filing can only be filed by a corporation with a very large amount of debt.
These two options are meant to provide both individuals and businesses with the opportunity to settle a portion of their debt. These options also provide protection from creditors while a company or individual works to regain their financial stability."

So it is a fact that nafa well not be receiving wild fur for 2020 or any sales ?

Sure looking that way Coonman. Time will tell

I have been told by a very reliable source that NAFA is out of the wild fur business. End of the line.

A no word on what happens to unsold fur they are sitting on? Kiss it goodbye I suspect.

Once the banks and courts get involved, it will take them quite some time to figure out everything that is/was going on at NAFA. It will be months, possibly a couple of years before everything is resolved.

Although it is possible that the bad checks will not be honored, I think it is too early to say that for sure. There should be announcements along the way to keep everyone posted on what is happening.

You’ve got multiple groups of people involved

- shippers that sold goods in August with bounced checks
- shippers with unsold goods that are intersorted
- dealers with goods in their own lots
- brokers that haven’t been paid their commissions
- mink ranchers that sold goods but still owe money on their production loans
- buyers that bought goods in August but only paid a 35% deposit
- receiving agents that haven’t been paid
- NAFA employees that are owed wages

Everyone of the above groups is going to want a piece of the pie.

Lots to figure out.

in laymans terms,BOHICA

i got ya Walleyed.

In chapter 7 bankruptcy, a creditor might get pennies, the bank trustee in the bankruptcy court, sells any non exempt property an keeps most of it for his fee. On $1000, u might get nothing to a dollar back , this talk on here, remind me of bankruptcy talk , just like where I work, it just happen like that

No advances or not like give them at fha, the next alternative is groenwold. Is he accepting possums this season ?

I have a big problem now. What do I do with the left over Fur bags?? I suppose I should return them. They may need them to haul the left over fur in storage to the incinerator?

You guys all talk about Chapter 7, Chapter 11, Chapter 13. Those are all US bankruptcy laws. Nafa is a Canadian Company, US laws don’t mean diddly. You should brush up on Canadian law if you want to be informed and try to figure out what is going to happen.

We all know what is going to happen. It already has happened. It happened the day they wrote the checks. In American court the civil side might not be a few at the tops biggest concern. It is possibly criminal. LLL

I did. They are similar. I can't find diddly on consignment goods though. A court basically divvies up everything. You gotta make a claim too. If you just wait for somebody to give you something, it don't appear that will happen.