A historic ranch in southern Alberta, once the home of Calgary Stampede founder Guy Weadick, has been pulled back from the brink of financial collapse. A legal application to place the nearly 190-acre property into receivership has been formally discontinued, securing the future of this culturally significant piece of Alberta's heritage.
Court Action Discontinued
Lawyers for both the ranch and an Ontario-based lender have filed a notice in Calgary's Court of King's Bench to discontinue the lawsuit entirely. The document states the action was ended "on a without cost basis pursuant to an agreement between the parties." This move brings a sudden and conclusive end to the legal jeopardy that had been hanging over the property.
As a result, Farm Lending Canada Inc.'s application to have a receiver appointed to take over the ranch operations has been dropped. Their claim for a sum exceeding $4.4 million in principal and interest has also been withdrawn. The dispute stemmed from a $5-million loan issued to The Stampede Ranch in October 2024 by the Chatham, Ontario lender, which was claimed to be due on June 1 of this year.
A Legacy Preserved
The ranch, located off Highway 541 in Foothills County west of Longview, holds deep historical roots. It was once owned by the legendary Alberta cowboy and showman Guy Weadick, the driving force behind the creation of the world-famous Calgary Stampede in 1912. Weadick and his wife, Flores LaDue, were photographed at the property in 1930, cementing its place in provincial lore.
It is important to note that The Stampede Ranch is not affiliated with the modern Calgary Stampede exhibition and rodeo. However, its connection to the event's founder makes it an irreplaceable landmark. The lender's original claim sought severe remedies, including a court order allowing them or an agent to enter the land to "preserve" it and the appointment of Grant Thornton as receiver over the property.
Resolution Reached
No statement of defence was ever filed in the case, as both parties were reportedly working toward a private agreement to resolve the dispute outside of court. The filing of the discontinuance confirms a settlement has been reached.
Jeffrey Oliver, lawyer for Farm Lending Canada, declined to comment beyond stating that the court documents speak for themselves. The resolution ensures the 135-year-old ranch will remain intact, preserving a tangible link to Alberta's cowboy culture and the visionary who started one of Canada's most iconic annual events. The quiet end to this legal battle marks a victory for heritage conservation in the province.
