Southern Alberta’s historic Stampede Ranch is facing a receivership application hearing which could determine the fate of the property.

The picturesque Stampede Ranch is a 135-year-old cattle ranch once run by Calgary Stampede founder Guy Weadick. The property, spanning nearly 190 acres, includes agricultural land, event operations, and livestock.

The current operators of the ranch, located about 20 kilometres southwest of Longview, Alta., are subject of a lawsuit aimed at recouping a $4.4-million debt.

Farm Lending Canada Inc. is suing The Stampede Ranch Ltd., Karl Farms Inc., Karl AG Corp. and Bryce Karl.

Parties hope to resolve

Bryce Karl is a director of Stampede Ranch and Karl AG, which owns 100 per cent of the voting shares of Stampede Ranch, according to corporate registries.

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