New Brunswick · CCAA
Third Report of the Monitor
Court officer report · 6 October 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing12 verified · 1 withheld
- secured creditorsnote: Stated as approximately $7.9 million per the Company's books and records. Document identifies BDC as the 'senior secured creditor' / 'Secured Lender' of ACPI (p.11); no security particulars stated. · page: 6 · as of: date of the First Bezeau Affidavit (sworn 6 August 2026) · amount: 7900000 · debtor: Island Fisherman's Co-operative Association Limited / ACPI · creditor: Business Development Bank of Canada · currency: CAD
- unsecured creditorsnote: Document names no individual suppliers in this class. · page: 6 · as of: date of the First Bezeau Affidavit (sworn 6 August 2026) · basis: Company's books and records; aggregate figure, no individual creditors named · amount: 2300000 · debtor: Island Fisherman's Co-operative Association Limited / ACPI · creditor: Other trade suppliers (aggregate) · currency: CAD
- unsecured creditorsnote: Document names no individual suppliers in this class. · page: 6 · as of: date of the First Bezeau Affidavit (sworn 6 August 2026) · basis: Company's books and records; aggregate figure, no individual creditors named · amount: 2900000 · debtor: Island Fisherman's Co-operative Association Limited / ACPI · creditor: Lobster and snow crab suppliers (aggregate) · currency: CAD
- unsecured creditorsnote: Document does not state whether this claim is secured or unsecured; listed among creditors only. Government agency. · page: 6 · as of: date of the First Bezeau Affidavit (sworn 6 August 2026) · basis: Company's books and records; security status not stated in the document · amount: 4200000 · debtor: Island Fisherman's Co-operative Association Limited / ACPI · creditor: Atlantic Canada Opportunities Agency · currency: CAD
- unsecured creditorsnote: Document does not state whether this claim is secured or unsecured; listed among creditors only. · page: 6 · as of: date of the First Bezeau Affidavit (sworn 6 August 2026) · basis: Company's books and records; security status not stated in the document · amount: 4400000 · debtor: Island Fisherman's Co-operative Association Limited / ACPI · creditor: Atlantic Fisheries Fund · currency: CAD
- unsecured creditorsnote: Related party (members of the cooperative). Page 6 states approximately $4.67 million of Loan Capital remains owing to members (Bezeau affidavit, p.5-6), listed as $4.7 million. Document does not state the security status of this class. · page: 6 · as of: date of the First Bezeau Affidavit (sworn 6 August 2026) · basis: Company's books and records as at the date of the First Bezeau Affidavit; creditor list stated to 'include, but are not limited to' · amount: 4700000 · debtor: Island Fisherman's Co-operative Association Limited / ACPI · creditor: Member's Loan Capital (owed to members) · currency: CAD
- cash on handnote: Actual closing cash position per the Third CF variance analysis; the report text states the closing cash was $0.38 million lower than forecast. · as at: 2026-10-03 · amount: 3816696 · currency: CAD
- operational summaryThe Company is not operating during the fall 2026 season; its activity is limited to collecting settlement proceeds from WhiteCap, running the fish market, and incurring holding, payroll and professional costs while a sales and investment solicitation process (SISP) for its core business is proposed.
- report date6 October 2026
- report noThird Report
- sale advisorEY-Parthenon Corporate Finance Inc.
- sale outcometext: The Company seeks Court approval of a proposed SISP (the Monitor conducting it, with EY Corporate Finance) to solicit bids for a sale of, or investment in, all or part of ACPI's assets and business; the SISP document itself recites a SISP Order granted 9 October 2026, and Court approval of any Successful Bid is to be sought on or before 12 February 2027. · scope: whole_business · status: process_approved
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.