Sunterra Group assets placed on sale after $35 million cheque‑kiting judgment

Alberta‑based Sunterra Group, which operates Sunterra Market stores in Red Deer, Calgary and Edmonton and runs meat‑processing and agricultural businesses in Canada and the United States, has been placed under a court‑supervised restructuring process. A January 27, 2026 decision by Justice Michael Lema of the Alberta Court of King's Bench found the company and its U.S. affiliates liable for an "astonishing" cheque‑kiting scheme that cost American lender Compeer Financial PCA about US$35 million. Sunterra president Ray Price was also held personally liable.

The court approved a sale and investment solicitation on April 28, 2026 under the Companies' Creditors Arrangement Act (CCAA). FTI Consulting Canada Inc. was appointed monitor, and Neil Narfason Professional Corporation serves as chief restructuring advisor. The process authorises proposals for investment, recapitalisation, refinancing, or the sale of all or part of Sunterra’s assets, with qualified bids to be reviewed and approved by the court.