If you’re a Canadian farmer struggling with overwhelming debt, you’re not alone. In fact, according to Statistics Canada data released in June 2023, Canadians owe roughly $1.85 to consumer credit, mortgage, and non-mortgage loans for every dollar of disposable income.

The current economic environment, marked by high inflation, rising interest rates, and geo-political conflict has made it especially difficult for business owners to stay on track or grow at anticipated rates. Farm owners are feeling the pinch and uncertainty can exacerbate an already taxing situation.

Insolvency will look different for every farm. Whether it’s engaging in restructuring or filing for bankruptcy, there are various options available to farmers in need of a financial solution.

MNP’s insolvency team of Licensed Insolvency Trustees (LITs) and advisors can assist in determining your options, what approach is the best for you and your operation, and how to help you look towards financial freedom in the future.

What's your challenge?

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Struggling to pay bills

If making ends meet has become impossible, it’s important to act sooner than later. It can be incredibly stressful trying to manage the day-to-day operations of your farm when fielding calls from creditors. MNP’s team can help you assess your financial situation and find a solution that will get you back on track.

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Planning for Retirement

Financial worries can make it difficult to plan for the future of your farm or your retirement. If your retirement goals are seeming more unrealistic, knowing your options and the realistic timelines that you can achieve them will give you peace of mind.

How we can help

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Exploring options for Bankruptcy or  Restructuring

Even though it might not feel like it, there are ways to resolve your debt. Our experienced team of LITs will assess your farm’s finances, help you decide which option is the best for you, and will be there to support you throughout the process.

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Comprehensive Transition planning and Insolvency Management Solutions

Setting goals for your retirement and determining the steps it will take to reach them doesn’t have to be scary. An MNP LIT will walk you through the process and show you what your future could look like. With the added help of MNP’s succession team, planning for your retirement after insolvency can be extremely rewarding.

Frequently asked questions



  • Progress

    June 05, 2024

    Farm succession planning: The role of your executor and how to set them up for success

  • Performance

    June 03, 2024

    Are you paying for the right financial statements for your farming company?

    What type of financial statement is right for your farming company? Explore the pros and cons of each to determine which is the right fit for your situation.

  • Confidence

    May 21, 2024

    Understanding the impact of Sustainability disclosures on Agriculture in Canada What to do and how to embrace it

    Do you know the new requirements for ESG disclosures in agriculture? We answer some of the most common questions about disclosing sustainability-related information for agriculture producers.

Contact the Agriculture Insolvency Team

Grant Bazian CIRP, LIT




[email protected]

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