Two major Canadian meat-packing firms have been threatened with heavy fines if they miss a deadline for not producing financial details demanded by Canada’s House of Commons, which is investigating how the C$1.6bn (US$1.15bn) of aid during the recent BSE crisis was used.
Under a proposal before the House agriculture committee Cargill Foods of Winnipeg and Alberta-based Lakeside Packers would have to provide financial statements or face a fine of $250,000 each day after a deadline for being deemed in Contempt of Parliament.
A deadline had been set for 20 May, but that has now been delayed by objecting Conservative MPs. Another meeting is scheduled for 23 May, when a majority vote is expected to set a firm deadline.
Initially, Cargill has said it would not provide them for confidentiality reasons whilst Tyson Foods-owned Lakeside Packers has argued it did not have the documents and thought the issue was becoming too political.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData