Blue Wave Seafoods Incorporated
- Proceeding
- NOIsections 50.4(7)(b)(ii) and 50.4(9) of the Bankruptcy and Insolvency Act ("BIA")
- File
- 37735
- Industry
- Manufacturing · Food & beverage manufacturing
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.
A claims procedure has been established — see the order for deadlines.
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
Undated filings3 — no date appears on the document · show
Debtor
Blue Wave Seafoods Incorporated
Proposal trustee
Deloitte
| # | 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 | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
51 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution. BMO paid in full · NSBI a distribution.Under the plan · vote pendingMinutes of Meeting of Creditors held March 24, 2014 · 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 | — | conditional | Under the planvote pendingper the proposal trustee | Minutes of Meeting of Creditors held March 24, 2014 · 24 Feb 2014 |
| Preferred | — | — | paid in full | Under the planvote pendingper the proposal trustee | Report of the Trustee on the Proposal · 24 Feb 2014 |
| Unsecured | — | — | a distributionconditional | Under the planvote pendingper the proposal trustee | Minutes of Meeting of Creditors held March 24, 2014 · 24 Feb 2014 |
| Unsecured | Deferred Creditors | — | no distribution | Under the planvote pendingper the proposal trustee | Minutes of Meeting of Creditors held March 24, 2014 · 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.
1 blurred figure above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Notice of Bankruptcy and Listing of Creditors
| PDF · Subscribers | |
Form 38
| PDF · Subscribers | |
| Certificate of Assignment | PDF · Subscribers | |
Minutes of Meeting of Creditors held March 24, 2014
| PDF · Subscribers | |
Trustee's Report
| PDF · Subscribers | |
Minutes of Meeting of Creditors held March 6, 2014
| PDF · Subscribers | |
Form 92 - Notice of Meeting of Creditors
| PDF · Subscribers | |
Report of the Trustee on the Proposal
| PDF · Subscribers | |
| Certificate of Filing a Proposal by the Debtor | PDF · Subscribers | |
Proposal
| PDF · Subscribers | |
Statement of Affairs
| PDF · Subscribers | |
| Statement of Cash Flow | PDF · Subscribers | |
Proposal Trustee's Second Report
| PDF · Subscribers | |
Order Approving Further Extension of Time to Make a Proposal
| PDF · Subscribers | |
| Order Approving Extension of Time to Make a Proposal and Providing for an Administrative Charge | PDF · Subscribers | |
Trustee Report
| PDF · Subscribers | |
| Letter of Filing of the Notice of Intention | PDF · Subscribers | |
| Affidavit of mailing of the Notice to Creditors | PDF · Subscribers | |
| Certificate of Notice of Intention | PDF · Subscribers | |
| Notice of Creditors Meeting | PDF · Subscribers | |
| Form 31 - Proof of Claim Form | PDF · Subscribers | |
| Form 36 - Proxy | PDF · Subscribers | |
| Form 37 - Voting Letter | PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Blue Wave Seafoods Incorporated” (NOI), Supreme Court of Nova Scotia. Retrieved 4 November 2026, https://proceedings.ca/case/blue-wave-seafoods-incorporated