Newfoundland and Labrador · CCAA
Letter to Court dated December 8, 2025
Court officer report · 8 December 2025
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 filing6 verified
- cash on handnote: Closing cash per the cash flow variance report at week 42 (Nov 28, 2025); comprises $97,404 balance per bank and $16,919 Mastercard available balance. Separately, proceeds of the sale of the 'RS Journey' including interest total $2,681,701 as of Nov 28, 2025. · as at: 2025-11-28 · amount: 114323 · currency: CAD
- disbursementsnote: Total cash disbursements, actual weeks 1-42, against a budget of $1,414,252; variance of $(74,387). · since: February 11, 2025 (cash flow weeks 1-42) · amount: 1339865 · currency: CAD
- operational summaryThe company is awaiting a DFO decision on transferring the DTL licence to the successful bidder, and the R.S. Journey II has not resumed groundfishing after completing its DFO charter. CIBC refinancing is stalled, the remaining vessel and groundfish licences remain listed for sale, and lobster gear was reported stolen.
- professional feesnote: Actual cash paid for Monitor and Monitor's legal fees per the variance table ($30,000 unfavourable to budget); Company legal fees were a further $121,933. Monitor fees: all bills to Oct 31 are paid and the Monitor holds $25,371 in trust for November bills. · party: Monitor and Monitor's legal counsel · amount: 486328 · period: Weeks 1-42 (February 11 to November 28, 2025) · currency: CAD
- receipts cumulativenote: Total cash receipts, actual weeks 1-42, against a budget of $1,305,937; variance of $(99,653). · since: February 11, 2025 (cash flow weeks 1-42) · amount: 1206284 · currency: CAD
- report date8 December 2025