EDMUNDSTON, N.B. - A lawyer for a New Brunswick potato farmer jailed in Lebanon has until the end of the month to present a plan to keep his client's farming businesses afloat and pay off creditors.
Bob Creamer, who's representing Henk Tepper, was in Court of Queen's Bench in Edmundston today seeking time to repay more than $8 million owed by Tobique Farms.
Creamer says an extension order was granted giving Tepper's companies time to work with the banks and secured creditors to come up with a so-called "plan of arrangement.''
That plan will be presented in court on Oct. 31 and could outline ways that Tepper's farming companies could pay off debts.
The 44-year-old potato grower from Drummond, N.B., has been held in a Beirut prison since March under an international arrest warrant over allegations some potatoes he exported to Algeria in 2007 were rotten.
Court documents filed by BMO, the largest secured creditor, say the bank is committed to working with the Tepper family to find a solution to the financial troubles.
