What we verified from this filing7 verified
- financial positionnote: Total liabilities figure includes amounts owing to secured creditors; total assets not stated in text (values referenced only at Exhibit H, not reproduced on these pages) · page: 14 · as at: 2026-05-02 · basis: Unaudited consolidated balance sheet of Seafood 2000 calculated up to May 2, 2026 (Exhibit H); liabilities figure described in affidavit as 'estimated' · scope: Consolidated (Seafood 2000 Ltd. and its subsidiaries SF2K USA Ltd. and 70%-owned Packers Pride USA LLC) · currency: CAD · total liabilities: 25642899.73
- secured creditorsnote: Separate term loan facility distinct from the NBC operating credit facility; approximate balance owing, no stated date · page: 18 · amount: 229774 · debtor: Seafood 2000 Ltd. · creditor: National Bank of Canada · currency: CAD · security: Term loan secured by a tractor-trailer
- secured creditorsnote: Vendor take-back financing from the 2024 Acquisition (former principal shareholder holding company); related party; listed by Applicant under secured creditors but no security instrument described in this affidavit · page: 18 · amount: 2000000 · debtor: Seafood 2000 Ltd. · creditor: Padevily Investment Inc. · currency: CAD
- secured creditorsnote: Vendor take-back financing from the 2024 Acquisition (former principal shareholder holding company); related party; listed by Applicant under secured creditors but no security instrument described in this affidavit · page: 18 · amount: 2000000 · debtor: Seafood 2000 Ltd. · creditor: Investissement MCL Inc. · currency: CAD
- secured creditorsnote: Vendor take-back financing from the 2024 Acquisition (former principal shareholder holding company); related party; listed by Applicant under secured creditors but no security instrument described in this affidavit · page: 18 · amount: 2000000 · debtor: Seafood 2000 Ltd. · creditor: Michlin Investment Inc. · currency: CAD
- secured creditorsnote: FCC Loan Agreement (May 16, 2024) principal advanced was $16,200,000 for the 2024 Acquisition; balance stated is 'estimated'/approximate as of March 28, 2025, plus costs, expense and interest; Seafood 2000 current on payments but in breach of debt-service-ratio covenant, default letter dated April 13, 2026 (FCC Default Letter) · as of: 2025-03-28 · amount: 16039720 · debtor: Seafood 2000 Ltd. · creditor: Farm Credit Canada · currency: CAD · security: Continuing Collateral Mortgage (dated July 17, 2024) over four parcels of real property, registered in the amount of $16,200,000; Continuing Collateral Leasehold Mortgage (PID 172650); General Security Agreement (Nov 14, 2022) giving first charge over all present and after-acquired personal property, subject to NBC's priority over accounts receivable and inventory; personal guarantees of Etienne Dodier, Louis Landry and Conrad Leger (officers/directors) limited to $16,200,000
- secured creditorsnote: NBC Loan Agreement (July 3, 2024, amended Aug 30, 2024) provided temporary operating credit up to $5,000,000 (facility limit, not balance); $3M overdraft converted to demand loan after Sept 2025 default; forbearance agreement provided Dec 23, 2025; balance stated is 'estimated'/approximate as of March 28, 2025, plus costs, expense and interest · as of: 2025-03-28 · amount: 1860000 · debtor: Seafood 2000 Ltd. · creditor: National Bank of Canada · currency: CAD · security: General Security Agreement (Nov 14, 2022) giving first charge over accounts receivables and inventory, subject to FCC's priority over all other personal and after-acquired personal property; personal guarantees of Etienne Dodier, Louis Landry and Conrad Leger (officers/directors)