The bankruptcy court has given Organic Meadow an extension
to June 16 because a secret buyer wants 35 days to check the books.
The dairy cooperative is blaming the Dairy Farmers of Ontario
marketing board for pushing it into seeking bankruptcy-court protection from
its creditors.
The milk board put Organic Meadow on a cash-on-delivery
basis after the cooperative ran up a large debt for milk purchases.
The bankruptcy court has forced suppliers, including the
milk board, to keep on doing business with the cooperative while it is in
bankruptcy protection seeking a way out of its dire financial straits.
