Blue Wave Seafoods Incorporated
FollowActive
- Proceeding
- NOIsections 50.4(7)(b)(ii) and 50.4(9) of the Bankruptcy and Insolvency Act ("BIA")
- File
- 37735
Filings held23
Last activity1 Apr 2014
On the record4,693 days
Secured debt$3.03M
OverviewSummary updated
Blue Wave Seafoods Incorporated filed a notice of intention on 15 November 2013, with Deloitte Restructuring Inc. as trustee and the matter before the Supreme Court of Nova Scotia under court file 37735. The proceeding turns on sections 50.4(7)(b)(ii) and 50.4(9) of the Bankruptcy and Insolvency Act. The Statement of Affairs as at 15 November 2013 puts total assets at $2,627,992.81 against total liabilities of $4,931,940.48, a reported deficiency of $2,303,947.67, with secured claims of $3,773,970.00 and unsecured claims of $1,157,970.48. Nova Scotia Business Inc. holds the largest secured position at $3,026,405 over the West Pubnico land and building, machinery, inventory and receivables, with $645,977.19 of that claim unsecured; BMO's $247,565 is fully secured. The province's Economic and Rural Development and Tourism claim of $500,000 ranks behind the Nova Scotia Business Inc. mortgage and is shown as wholly unsecured. The proceeding is active.
Claims processIf you are owed money
A claims procedure has been established — see the order for deadlines.
Proceedings AIAsk this case — answers cite the filings
Case updates20 dated entries · 3 undated
#Report
The officer filed a report. Due to inability to access additional financing from BMO, Blue Wave's accounts payable to subsequent (post-filing) creditors have increased and some are now over 91 days past due, indicating continued operational strain during the proposal proceedings.
Source: Trustee's Report
#Report
A court officer report was filed, dated to the November 15, 2013 commencement of the proceeding; the record does not set out its contents.
Source: Proposal Trustee's Second Report
#Report
A second court officer report bears the same date, likewise with no recorded contents.
Source: Trustee Report
Parties
Debtor
Blue Wave Seafoods Incorporated
Proposal trustee
Deloitte
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Nova Scotia Business Inc. · in 3 casesas of filing of proposal (15 November 2013) — Business Assets - Machinery; Real Property/Immovable - Building and Land, West Pubnico; Furniture/office equipment; Business Assets - Stock In Trade; Debts Due - Business trade account receivables — Balance of claim unsecured: $645,977.19 per List B — debtor: Blue Wave Seafoods Inc. | $3.03M | Statement of Affairs |
| 4 | Secured | Nova Scotia Economic and Rural Development and Tourism · in 2 casesas of filing of proposal (15 November 2013) — Business Assets - Machinery; Stock In Trade; Debts Due; Furniture/office equipment; Real Property/Immovable - Building and Land, West Pubnico — Related party: provincial government agency; estimated value of security shown as $0.00, balance unsecured $500,000.00 per List B; subordinate ranking behind Nova Scotia Business Inc. mortgage on same real property — debtor: Blue Wave Seafoods Inc. | $500K | Statement of Affairs |
| 4 | Secured | BMO · in 17 casesas of filing of proposal (15 November 2013) — Business Assets - Stock In Trade (Inventory/various); Debts Due - Business trade account receivables — Fully secured; estimated value of security equals or exceeds claim, balance unsecured nil — debtor: Blue Wave Seafoods Inc. | $248K | Statement of Affairs |
| 8 | Unsecured | Acadian Fish Productsas of 15 November 2013 — Two separate listed claims for same creditor — debtor: Blue Wave Seafoods Inc. | $233K | Statement of Affairs |
| 8 | Unsecured | CRA - Canada Revenue Agency - Tax - Atlantic · in 4 casesas of 15 November 2013 — Listed as ordinary unsecured claim on this Statement of Affairs; possible deemed-trust class not separately identified in document — debtor: Blue Wave Seafoods Inc. | $200K | Statement of Affairs |
| 8 | Unsecured | Acadian Fish Productsas of 15 November 2013 — Two separate listed claims for same creditor — debtor: Blue Wave Seafoods Inc. | $193K | Statement of Affairs |
| 8 | Unsecured | W R Bolivar Transportas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $119K | Statement of Affairs |
| 8 | Unsecured | Tech Pak Incas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $98.4K | Statement of Affairs |
| 8 | Unsecured | Region of Queens Municipalityas of 15 November 2013 — Municipal claim listed as ordinary unsecured — debtor: Blue Wave Seafoods Inc. | $56.8K | Statement of Affairs |
| 8 | Unsecured | Boyne Clarke Barristersas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $54K | Statement of Affairs |
| 8 | Unsecured | OEC Overseas Expressas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $30.8K | Statement of Affairs |
| 8 | Unsecured | The Great-West Life Assurance Company · in 4 casesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $24.9K | Statement of Affairs |
| 8 | Unsecured | Lyle Tilley Davidsonas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $24.5K | Statement of Affairs |
| 8 | Unsecured | Nova Scotia Power · in 15 casesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $15.4K | Statement of Affairs |
| 8 | Unsecured | Thomas L Swaine Ltdas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $13.4K | Statement of Affairs |
| 8 | Unsecured | Sambro Fisheries Limited · in 2 casesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $9.97K | Statement of Affairs |
| 8 | Unsecured | WHS Enterprisesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $7.82K | Statement of Affairs |
| 8 | Unsecured | Wesley D'Eonas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $6.96K | Statement of Affairs |
| 8 | Unsecured | Workers Compensation Board of Nova Scotia · in 18 casesas of 15 November 2013 — Regulatory/statutory workers' compensation claim — debtor: Blue Wave Seafoods Inc. | $6.83K | Statement of Affairs |
| 8 | Unsecured | RBC Royal Bank Visa c/o BankruptcyHighway.com · in 38 casesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $6.12K | Statement of Affairs |
| 8 | Unsecured | Scotiabank Visa c/o BankruptcyHighway.comas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $6.11K | Statement of Affairs |
| 8 | Unsecured | Alma Whitmanas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $4.83K | Statement of Affairs |
| 8 | Unsecured | Glenn Fitzgerald Trucking Ltdas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $4.07K | Statement of Affairs |
| 8 | Unsecured | South Shore Truck Center · in 2 casesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $3.55K | Statement of Affairs |
| 8 | Unsecured | Bluewave Energy - Dartmouthas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $3.47K | Statement of Affairs |
| 8 | Unsecured | Christopher Robar Contractingas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $3.36K | Statement of Affairs |
| 8 | Unsecured | Gerrard Ovalstrapping · in 2 casesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $3.36K | Statement of Affairs |
| 8 | Unsecured | Brenntag Canada · in 4 casesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $2.76K | Statement of Affairs |
| 8 | Unsecured | Cabot Shopping Suppliesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $2.4K | Statement of Affairs |
| 8 | Unsecured | Scotia Garden Seafoodsas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $2.4K | Statement of Affairs |
| 8 | Unsecured | Cape Breeze Seafoodsas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $2.38K | Statement of Affairs |
| 8 | Unsecured | Farnell Packaging Ltd · in 4 casesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $1.96K | Statement of Affairs |
| 8 | Unsecured | Mader's Refridgerationas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $1.73K | Statement of Affairs |
| 8 | Unsecured | Bill Enterprises (NAPA)as of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $1.57K | Statement of Affairs |
| 8 | Unsecured | Bell Mobility · in 83 casesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $1.54K | Statement of Affairs |
| 8 | Unsecured | Hervic Enterprises Ltdas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $1.53K | Statement of Affairs |
| 8 | Unsecured | Valley Tire Ltdas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $1.43K | Statement of Affairs |
| 8 | Unsecured | Irving Oil · in 6 casesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $905 | Statement of Affairs |
| 8 | Unsecured | Douglas Ingramas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $854 | Statement of Affairs |
| 8 | Unsecured | Workplace Essentials · in 3 casesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $779 | Statement of Affairs |
| 8 | Unsecured | PCF Consultingas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $748 | Statement of Affairs |
| 8 | Unsecured | Little Hope Managementas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $710 | Statement of Affairs |
| 8 | Unsecured | Receiver General CFIAas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $680 | Statement of Affairs |
| 8 | Unsecured | Lyreco Canada Incas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $541 | Statement of Affairs |
| 8 | Unsecured | Napa Liverpoolas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $463 | Statement of Affairs |
| 8 | Unsecured | Deringer Managing Logisticsas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $456 | Statement of Affairs |
| 8 | Unsecured | Nova Industrialas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $451 | Statement of Affairs |
| 8 | Unsecured | Dufferin Auto & Dieselas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $378 | Statement of Affairs |
| 8 | Unsecured | PAL Advisory Servicesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $344 | Statement of Affairs |
| 8 | Unsecured | Fader Agenciesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $312 | Statement of Affairs |
| 8 | Unsecured | Bell Aliant - Residential (NB, NS, PE, NL) · in 4 casesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $282 | Statement of Affairs |
| 8 | Unsecured | Allied Industrial Suppliesas of 15 November 2013 — debtor: Blue Wave Seafoods Inc. | $271 | Statement of Affairs |
RecoveriesAs stated in the filings
Unsecured creditors: no distribution. BMO paid in full · NSBI paid in full.Under the plan · vote pendingTrustee's Report · 24 Feb 2014
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | BMO | — | paid in full | Under the planvote pendingper the proposal trustee | Minutes of Meeting of Creditors held March 6, 2014 · 24 Feb 2014 |
| Secured | NSBI | — | paid in full$100Kconditional | Under the planvote pendingper the debtor | Proposal · 17 Feb 2014 |
| Preferred | — | — | paid in full | Under the planvote pendingper the proposal trustee | Report of the Trustee on the Proposal · 24 Feb 2014 |
| Unsecured | Deferred Creditors | — | no distribution | Under the planvote pendingper the proposal trustee | Trustee's Report · 24 Feb 2014 |
| Unsecured | — | — | 10–25 % | Under the planvote pendingper the proposal trustee | Trustee's Report · 24 Feb 2014 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
Estate financialsReported figures — never derived
Total assets at filing$3.69M
Total liabilities at filing$4.93M
As at 10 Feb 2014 · per unaudited, per Company's Statement of Affairs / book value with Proposal Trustee estimated realizable values · entity - Blue Wave Seafoods Inc. — Assets by category (book value): Accounts receivable $1,571,432; Inventory $191,224; Capital Assets $1,925,086; estimated realizable value range $291,359 (low) to $708,162 (high) in liquidation. Liabilities per creditor claims at NOI Date: Priority $257,042 (2 creditors); Secured $3,773,970 (3 creditors); Preferred $0; Unsecured $900,928 (48 creditors); Total $4,931,940 (51 creditors).
Professional fees to date
$50K
As at 21 Mar 2014Trustee's Report
Documents
23 filings
| Date | Document | File |
|---|---|---|
| Notice of Bankruptcy and Listing of Creditors | ||
| Form 38 | ||
| Certificate of Assignment | ||
Minutes of Meeting of Creditors held March 24, 2014
| ||
Trustee's Report
| ||
Minutes of Meeting of Creditors held March 6, 2014
| ||
| Form 92 - Notice of Meeting of Creditors | ||
Report of the Trustee on the Proposal
| ||
| Certificate of Filing a Proposal by the Debtor | ||
Proposal
| ||
Statement of Affairs
| ||
| Statement of Cash Flow | ||
Proposal Trustee's Second Report
| ||
Order Approving Further Extension of Time to Make a Proposal
| ||
| Order Approving Extension of Time to Make a Proposal and Providing for an Administrative Charge | ||
Trustee Report
| ||
| Letter of Filing of the Notice of Intention | ||
| Affidavit of mailing of the Notice to Creditors | ||
| Certificate of Notice of Intention | ||
| Notice of Creditors Meeting | ||
| Form 31 - Proof of Claim Form | ||
| Form 36 - Proxy | ||
| Form 37 - Voting Letter | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Blue Wave Seafoods Incorporated” (NOI), Supreme Court of Nova Scotia. Retrieved 20 September 2026, https://proceedings.ca/case/blue-wave-seafoods-incorporated