Norcon Marine Services Limited

Norcon Marine Services Limited is in active insolvency proceedings, a receiver having been appointed under Business Development Bank of Canada's security over the vessels MV NORCON OCEANUS and MV NORTHERN SEAL. As of January 14, 2020, BDC's secured claim stood at $1,395,500.00 and the Bank of Nova Scotia's at $1,787,321.00, each held on specific property. A Form 33 list of creditors with claims of $250 or more records both lenders again as unsecured claimants at different figures: Scotiabank at $1,455,103.00 and $332,218.30, and BDC at $1,388,058.43. The Canada Revenue Agency appears for deemed trust claims of $213,062.00 and $244,777.00. Larger trade claims include Eastern Foundry Ltd at $440,693.00, Clarenville Dry Dock at $330,000.00, DNV - Det Norske Veritas (Canada) Limited at $197,083.82 and CBDC South Coast at $102,817.60.