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Choice Genetics USA Files Plan of Reorganization to Exit Chapter 11

WEST DES MOINES, Iowa – Today, Choice Genetics USA, LLC (CGUSA) jointly filed a plan of reorganization (Plan) with the Official Committee of Unsecured Creditors in the case.  The Plan proposes to pay all creditors in full, thus providing a quick exit from its Chapter 11 reorganization proceeding.

Because of an unexpected and unfavorable decision by an arbitration panel on January 31, 2014, CGUSA filed a Chapter 11 reorganization case on February 13, 2014 in order to assure the continuation of its business, and give it time to negotiate a resolution of a contract dispute. CGUSA has continued to operate business as usual since the filing, with no interruptions in farm operations, payments to suppliers, the R&D program, or supply to its customers.

The arbitration procedure was initiated in 2012 by Scidera, Inc. (Scidera), who claimed rights under a technology licensing contract executed in 2004 by its original parties, Monsanto Company and MetaMorphix, Inc. (MMI). CGUSA became a party to the contract after it acquired the Monsanto Choice Genetics business in 2007. In 2011 – 2012, Scidera claimed to have acquired certain assets of MMI after MMI filed bankruptcy in 2010.

In addition to a monetary award, the arbitration decision included other provisions which CGUSA interpreted as essentially rewriting the terms of the contract, therefore causing an extraordinary challenge for CGUSA to operate within its business model under the new interpretation of the contract.

CGUSA is excited to announce that it has reached an agreement on the terms of a settlement with Scidera, which is incorporated in the Plan. The Plan, which is subject to approval in the reorganization case, provides for a buyout/termination of the contract, allowing CGUSA to continue its business with full rights to all of its lines.

Source: Choice Genetics

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Ontario Swine Research Centre Grand Opening | Ontario Pork News

Video: Ontario Swine Research Centre Grand Opening | Ontario Pork News

After six years of intense planning, collaboration, consulting and construction, the new Ontario Swine Research Centre is officially open. On August 24, 2023, pork producers and their children joined University of Guelph researchers and Government officials for a tour of the facility. The grand opening saw more than 800 guests attend. This long-awaited unveiling of the state-of-the-art facility was a proud moment for Ontario’s pork industry.

The 68,000 square foot facility is equipped with the latest in agriculture technology. This includes advanced loose sow housing and automatic feeding systems. The feeding system is connected to radio frequency identification (RFID) ear tags, so researchers will be able to monitor and control the precise amount and type of blended feed mixture that each pig is eating. This valuable nutrition research data will benefit all producers.

The new facility is the result of a collaborative investment from the Government of Ontario, the Agricultural Research Institute of Ontario (ARIO) the Ontario’s pork industry, and the University of Guelph.