WINNIPEG, MANITOBA, CANADA — LWP Capital Inc., formerly known as Legumex Walker, announced on Jan. 5 that it has completed liquidation of its business.
The company also announced its wholly owned subsidiary has completed the divestiture of its 84% ownership interest in Pacific Coast Canola LLC (PCC) to Glencore Grain Investment LLC and McKinstry Holdings, Inc., an affiliate of Industrial Construction Group, Inc. (ICG), for no cash consideration.
In November, LWP completed the sale of its Special Crops Division to The Scoular Company for gross proceeds of C$94 million, less closing and post-closing adjustments, plus C$71.5 million.
With both the sale of the assets of the LWP’S Special Crops Division and the divestiture of its indirect 84% interest in PCC completed, LWP Capital no longer carries on an active business.
As a result, the LWP’s common shares were delisted from the Toronto Stock Exchange (TSX) on Dec. 31 and, on that date the LWP commenced its voluntary liquidation and dissolution pursuant to the Canada Business Corporations Act, as announced on Nov. 23.
LWP’s board of directors, comprised of Bruce Scherr, Chris Schnarr and Peter Williams, have resigned.
KSV Advisory Inc. (KSV) is the liquidator under the Liquidation Plan.