New Brunswick · CCAA
Second Report of the Monitor
Court officer report · 21 September 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 filing11 verified · 1 withheld
- secured creditorsnote: Listed among creditors per the Company's books and records, rounded figure ($7.9 million). The Monitor's report does not state whether BDC is secured; included here because it is the lead listed creditor, but classification and security are not stated in these pages. · page: 6 · as of: 6 August 2026 (date of First Bezeau Affidavit) · amount: 7900000 · debtor: ACPI · creditor: Business Development Bank of Canada · currency: CAD
- unsecured creditorsnote: Stated as $4.7 million in the creditor list (p.7) and approximately $4.67 million in para 12. · page: 6 · as of: 6 August 2026 (date of First Bezeau Affidavit) · basis: Company's books and records; approximately $4.67 million of Loan Capital owing to members per First Bezeau Affidavit · amount: 4700000 · debtor: ACPI · creditor: Members (Member's Loan Capital) · currency: CAD
- secured creditorsnote: Listed among creditors per the Company's books and records ($4.4 million, rounded). Whether secured is not stated in these pages. · page: 7 · as of: 6 August 2026 (date of First Bezeau Affidavit) · amount: 4400000 · debtor: ACPI · creditor: Atlantic Fisheries Fund · currency: CAD
- unsecured creditorsnote: Aggregate of suppliers; individual creditors not named. · page: 7 · as of: 6 August 2026 (date of First Bezeau Affidavit) · basis: Company's books and records (aggregate class) · amount: 2900000 · debtor: ACPI · creditor: Lobster and snow crab suppliers · currency: CAD
- unsecured creditorsnote: Aggregate of trade suppliers; individual creditors not named. · page: 7 · as of: 6 August 2026 (date of First Bezeau Affidavit) · basis: Company's books and records (aggregate class) · amount: 2300000 · debtor: ACPI · creditor: Other trade suppliers · currency: CAD
- unsecured creditorsnote: ACOA has since provided a statement of account reflecting $4.2 million outstanding; the Company and Monitor are reviewing. Government agency; security status not stated. · page: 7 · as of: 6 August 2026 (date of First Bezeau Affidavit) · basis: Company's books and records · amount: 2700000 · debtor: ACPI · creditor: Atlantic Canada Opportunities Agency · currency: CAD
- unsecured creditorsnote: DISPUTED / not a creditor: books reported a $14.1 million USD advance payable to WhiteCap at 30 June 2026 (audited 31 Dec 2025 statements showed $6.9 million CAD payable). WhiteCap's counsel asserts title passes on advance so no claim for advances exists; the Monitor, after legal review, understands WhiteCap is not a creditor of the Company. · page: 10 · as of: 30 June 2026 · basis: Company's books and records · debtor: ACPI · creditor: WhiteCap International Seafood Exporters Inc. (advances) · currency: USD
- cash on handnote: Closing cash position per Second CF Variance Analysis as at 19 September 2026 · as at: 2026-09-19 · amount: 3996860 · currency: CAD
- operational summaryThe Company has decided not to operate during the Fall 2026 season, has shipped substantially all inventory to WhiteCap, and continues to pursue a restructuring plan or, pending a members' vote, a court-approved sale and investment solicitation process (SISP).
- report date21 September 2026
- report noSecond Report
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.