New Brunswick · CCAA
Pre-filing Report of the Proposed Monitor
Pre-filing report · 7 August 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 filing8 verified
- secured creditorsnote: Approximate amount stated ('approximately $7.89 million'); Proposed Monitor's legal counsel has not performed a security review at this stage · page: 7 · amount: 7890000 · debtor: Island Fisherman's Co-operative Association Limited / Association Cooperative des Pecheurs de L'Ile Limitee · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: First charge mortgage over Lamèque Facility and related sublease; general security agreement over all present and after-acquired personal property
- unsecured creditorsnote: Approximate figure as reported by the Applicant · page: 7 · basis: Stated in Pre-Filing Report ('currently owes approximately $2.94 million') · amount: 2940000 · debtor: Island Fisherman's Co-operative Association Limited / Association Cooperative des Pecheurs de L'Ile Limitee · creditor: Snow crab suppliers · currency: CAD
- unsecured creditorsnote: Related party class - member/cooperative loans subject to a 1992 withdrawal policy governing redemption requests · page: 7 · basis: Stated in Pre-Filing Report ('approximately $4.67 million of Loan Capital remains owing to members') · amount: 4670000 · debtor: Island Fisherman's Co-operative Association Limited / Association Cooperative des Pecheurs de L'Ile Limitee · creditor: Members of the Applicant (Loan Capital / Members' Loans) · currency: CAD
- unsecured creditorsnote: Approximate figure as reported · page: 8 · basis: Stated in Pre-Filing Report as unsecured long-term debt · amount: 2700000 · debtor: Island Fisherman's Co-operative Association Limited / Association Cooperative des Pecheurs de L'Ile Limitee · creditor: Atlantic Canada Opportunities Agency (ACOA) · currency: CAD
- unsecured creditorsnote: To be set off against anticipated sale proceeds from Applicant's inventory currently in possession of WhiteCap; WhiteCap is also the Applicant's broker and Applicant holds a 5% minority interest in WhiteCap (related party consideration) · page: 8 · as of: 2026-06-30 · basis: Stated in Pre-Filing Report ('As of 30 June 2026, the Applicant owed $14.1 million USD to WhiteCap') · amount: 14100000 · debtor: Island Fisherman's Co-operative Association Limited / Association Cooperative des Pecheurs de L'Ile Limitee · creditor: WhiteCap International Seafood Exporters Inc. · currency: USD
- unsecured creditorsnote: Approximate aggregate figure as reported, individual creditors not named · page: 8 · basis: Stated in Pre-Filing Report ('a further $2.25 million to other trade and service creditors') · amount: 2250000 · debtor: Island Fisherman's Co-operative Association Limited / Association Cooperative des Pecheurs de L'Ile Limitee · creditor: Other trade and service creditors · currency: CAD
- unsecured creditorsnote: Approximate figure as reported · page: 8 · basis: Stated in Pre-Filing Report as unsecured long-term debt · amount: 4400000 · debtor: Island Fisherman's Co-operative Association Limited / Association Cooperative des Pecheurs de L'Ile Limitee · creditor: Atlantic Fisheries Fund (AAF) · currency: CAD
- unsecured creditorsnote: Approximate figure as reported · page: 8 · basis: Stated in Pre-Filing Report ('$0.1 million to lobster suppliers') · amount: 100000 · debtor: Island Fisherman's Co-operative Association Limited / Association Cooperative des Pecheurs de L'Ile Limitee · creditor: Lobster suppliers · currency: CAD