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Better Farming Ontario magazine is published 11 times per year. After each edition is published, we share featured articles online.


Pigeon King to face creditors this month

Tuesday, January 12, 2010

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by BETTER FARMING STAFF


Ontario’s former, self-named pigeon king must face his creditors in Kitchener this month.
 
BDO Canada Limited, the trustee of Arlan Galbraith’s personal estate, will hold a first meeting of creditors on Jan. 27 at Bingemans conference centre. The meeting begins at 1 p.m. Galbraith’s certificate of filing a bankruptcy order states that he must attend the meeting.

The Superior Court of Justice in Bankruptcy and Insolvency in London declared Galbraith personally bankrupt in December. Galbraith, abandoned a contest the personal bankruptcy and did not attend the Dec. 16 court proceedings.

The bankruptcy came more than a year and a half after Galbraith placed his Waterloo-based Pigeon King International Inc., in bankruptcy. BDO is also the company’s bankruptcy trustee.

The PKI breeding scheme offered pigeon breeding pairs for as much as $500 and bought back offspring for up to $50 each. Its June 2008 collapse left hundreds of pigeon breeders on both sides of the border with thousands of worthless birds and debts of nearly $39 million.

James Wiersma of Fisherville, Ontario, one of four creditor-appointed inspectors in the PKI company bankruptcy, initiated personal bankruptcy proceedings against Galbraith in November 2008.

Documents posted on BDO’s website list Galbraith’s personal assets to be $376,150 — with his property in Cochrane, Ontario being listed as the primary asset, valued at $300,000 — and indicate he owes former Canadian pigeon breeders more than $573,000 and U.S. breeders more than $122,000.

This is Galbraith’s second personal bankruptcy. In 1981 he received an unconditional discharge following the collapse of a meat business he ran with his brother. At that time he listed assets of $470,000 and liabilities of $410,000. BF

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