FossFishing is subject to a court-appointed receivership in Newfoundland and Labrador, with BDO acting as receiver under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The proceeding is recorded as commencing on January 12, 2024, the date BDO gives as its Date of Appointment in the first report on file. The record is not internally consistent on that point: two subsequent court officer reports identify March 18, 2024 as the Date of Appointment. Three court officer reports have been filed. The receivership remains active.
The officer filed report no. Third Interim Report. The Receiver has completed realization of the Fishing Vessel and related equipment; the remaining property (receivables, equipment/furniture, fishing gear) was found not to exist or to have no realizable value. The receivership is nearing completion pending final distribution of estate funds.
Source: Foss Fishing Enterprise Limited - Third Statement of the Receiver
The officer filed report no. Second Interim Report. As of the report date, the Receiver had not yet realized upon the Debtor's fishing licenses and quota, and had engaged Trinav Marine Brokerage to market and sell the Property; the receivership will conclude once the Property is sold and remaining duties, including fund distribution, are completed.
Source: Jimmy Lee Gerald Foss - Second Statement of the Receiver
Foss Fishing Enterprise Limited - Second Statement of the Receiver — Notice of receiver (s. 245 / Form 87)
The officer filed report no. First Interim Report. The Receiver has not yet realized upon the Debtor's fishing licenses and related quota, and has engaged Trinav Marine Brokerage to market and sell the Property; the receivership will conclude once the Property is realized and remaining duties are completed.
Source: Jimmy Lee Gerald Foss - First Statement of the Receiver
The officer filed report no. First Interim Report. The Receiver has not yet realized upon the fishing vessel and related equipment, and has engaged Trinav Marine Brokerage to market and sell these assets.
Source: Foss Fishing Enterprise Limited - First Statement of the Receiver
Jimmy Lee Gerald Foss - Notice and Statement of Receiver - dated March 29, 2024 — Notice of receiver (s. 245 / Form 87)
Foss Fishing Enterprise Limited - Notice and Statement of Receiver - dated January 15, 2024 — Notice of receiver (s. 245 / Form 87)
Debtor
FossFishing
Receiver
BDO
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 926 casesListed as a secured creditor with unknown amount owed; likely deemed-trust class claim (source withholdings), amount not stated — debtor: Foss Fishing Enterprise Limited | — | Foss Fishing Enterprise Limited - Notice and Statement of Receiver - dated January 15, 2024 |
| 4 | Secured | Canadian Imperial Bank of Commerce (CIBC) · in 67 casesGSA dated April 19, 2022 over all present and after-acquired personal property (NL PPSR Reg. No. 19829167, registered May 5, 2022); Marine Mortgage dated April 19, 2022 over fishing vessel Ocean Surfer II (Official No. 80538), registered as Transport Canada Mortgage 'L' on May 6, 2022; Deed of Covenants collateral to the Marine Mortgage dated April 19, 2022 — Debtor's primary secured lender; supported by personal guarantee of Jimmy Lee Foss (director/related individual) dated December 1, 2022, secured by a GSA registered May 5, 2022 (Reg. No. 19829126), and by corporate guarantee of Quinlan Br | $3.77M | Foss Fishing Enterprise Limited - Notice and Statement of Receiver - dated January 15, 2024 |
| 4 | Secured | La Scie Harbour AuthorityListed as a secured creditor with unknown amount owed; nature of security not stated — debtor: Foss Fishing Enterprise Limited | — | Foss Fishing Enterprise Limited - Notice and Statement of Receiver - dated January 15, 2024 |
| 4 | Secured | Quinlan Brothers LimitedListed in Notice as a creditor holding security on the Debtor's property; underlying instrument described on p.1-2 is a Guarantee dated April 21, 2022 made in favour of CIBC (the Lender), not a direct security agreement with the Debtor; nature of its own security interest not otherwise detailed in these pages — Amount owed unknown per Receiver's Notice; possible related-party/guarantor relationship arising from its guarantee of CIBC's debt — debtor: Foss Fishing Enterprise Limited | — | Foss Fishing Enterprise Limited - Notice and Statement of Receiver - dated January 15, 2024 |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
Cumulative receipts
$192K
As at 18 Jul 2025Foss Fishing Enterprise Limited - Third Statement of the Receiver
Cumulative disbursements
$97.6K
As at 18 Jul 2025Foss Fishing Enterprise Limited - Third Statement of the Receiver
Professional fees to date
$33.1K
As at 18 Jul 2025Foss Fishing Enterprise Limited - Third Statement of the Receiver
| Date | Document | File |
|---|---|---|
Foss Fishing Enterprise Limited - Third Statement of the Receiver
| ||
Jimmy Lee Gerald Foss - Second Statement of the Receiver
| ||
| Foss Fishing Enterprise Limited - Second Statement of the Receiver | ||
Jimmy Lee Gerald Foss - First Statement of the Receiver
| ||
Foss Fishing Enterprise Limited - First Statement of the Receiver
| ||
| Jimmy Lee Gerald Foss - Notice and Statement of Receiver - dated March 29, 2024 | ||
| Jimmy Lee Gerald Foss - OSB Certificate | ||
| Foss Fishing Enterprise Limited - OSB Certificate | ||
| 1.245 Notice of Receiver | ||
Foss Fishing Enterprise Limited - Notice and Statement of Receiver - dated January 15, 2024
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “FossFishing” (Receivership (court-appointed)). Retrieved 20 September 2026, https://proceedings.ca/case/foss-fishing-enterprise-limited
Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/foss-fishing-enterprise-limited
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.