On December 17, 2025, Farm Lending Canada withdrew its claim against Stampede Ranch, signaling the end of the court battle between the two parties and removing the threat of receivership from the ranch.
Stampede Ranch, a historic cattle ranch in Southern Alberta with a rich 135-year-old history under Calgary Stampede founder Guy Weadick, is currently facing a receivership application that could determine its future. The sprawling property covers almost 190 acres and encompasses agricultural land, event facilities, and livestock operations.
The current operators of Stampede Ranch, situated approximately 20 kilometers southwest of Longview, Alberta, are embroiled in a legal dispute seeking to recover a $4.4 million debt. Farm Lending Canada Inc. has filed a lawsuit against The Stampede Ranch Ltd., Karl Farms Inc., Karl AG Corp., and Bryce Karl.
Bryce Karl, a director of Stampede Ranch and Karl AG, which holds full ownership of Stampede Ranch’s voting shares, is at the center of the legal proceedings. It’s important to note that Stampede Ranch is distinct from Calgary Stampede Ranch, a separate property near Hanna, Alberta, established in 1961 for breeding rodeo horses and bulls.
Initially scheduled for November 2, the receiver application hearing was postponed to December 2. Stampede Ranch representatives have indicated that they are working with a new mortgage lender to secure financing promptly, aiming to settle the debt owed to Farm Lending and halt the receivership application hearing.
Farm Lending’s concerns stem from Karl’s past issues with the Alberta Energy Regulator (AER). Karl, a former owner of oil and gas companies, faced sanctions in 2015 for breaching AER regulations, including non-payment of fees and neglect of well sites.
As Farm Lending discovered Karl’s regulatory troubles, they raised apprehensions about his ability to comply with loan repayments. Efforts to resolve the financial dispute, including refinancing attempts and standstill agreements with the defendants, have so far not led to debt repayment.
The $5 million loan from Farm Lending to Karl Farms in 2024 reached maturity on June 1, 2025, resulting in default by the debtors. Farm Lending is seeking the appointment of a receiver due to the debtors’ failure to refinance and meet their obligations.
Should a receiver be appointed, the receiver manager would take over Stampede Ranch’s operations, aiming to sell the business as a going concern. Jassmine Girgis, a bankruptcy law expert, highlights the complexity of managing a ranch with diverse operations like agriculture, events, and livestock under receivership.
Stampede Ranch, previously owned by Guy Weadick and Florence LaDue, has a versatile history beyond cattle farming, serving various purposes such as a film set, rodeo training center, and youth rehabilitation facility. Plans for the property’s future include expanding facilities for events, accommodations, and recreational amenities.
Farm Lending has proposed Grant Thornton Ltd. as the receiver and manager of Stampede Ranch. The legal proceedings are ongoing, with a court date set for December 2 and a detailed litigation schedule leading up to the hearing.