Newfoundland and Labrador · CCAA
Monitor's Fourth Report dated May 14, 2025.pdf
Court officer report · 14 May 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 filing8 verified
- cash on handnote: This is the R.S. Journey sale purchase price held in trust by the Monitor pending further court order, not an operating cash balance; the report states no general cash-on-hand figure. · amount: 2750000 · currency: CAD
- closing confirmedscope: the R.S. Journey · outcome: completed · effective: 2025-04-15 · purchaser: Todd Young · date basis: stated · approval order date: 2025-04-14
- operational summaryThe Monitor has closed the R.S. Journey sale and run the SISP, accepting an offer on Lot 3 (fishing licence NL-013) with no offers on Lot 2. The Companies continue operating the R.S. Journey II, their sole remaining vessel, whose arrest by creditor West Nova Fuels is temporarily released pending resolution.
- process resultsbids: 5 · ndas: 14 · note: As of the date of this Fourth Report and the SISP Bid Deadline · as of: 2025-05-14 · solicited: 330
- purchaserTodd Young; price: sealed: true · scope: Lot 3 · status: approved · name note: accepted offer on Lot 3, unnamed · structure: assets · name source: operative · relationship: unstated
- report date14 May 2025
- report noFourth Report
- sale outcometext: SISP process update, Lot 1 closed, Lot 2 no offers to be liquidated, Lot 3 offer accepted · scope: whole_business · status: approved