Newfoundland and Labrador · CCAA
Monitor's Ninth Report dated January 19, 2026
Court officer report · 19 January 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 filing7 verified
- operational summaryThe Companies continue limited operations (R.S. Journey II recommenced groundfishing in early January 2026 after completing the DFO charter), but cannot operate and fund the CCAA proceeding. Refinancing failed when the potential lender declined on January 12, 2026; the Excluded Assets remain unsold, the DTL licence transfer awaits DFO approval, and BMO has applied for a receiver over everything except the DTL licence.
- professional feesnote: Stated as unpaid invoices of the Monitor and its legal counsel; the Monitor has sufficient funds held in trust to pay these amounts. Separately, $110,999 of proceeds held in trust was used to pay previously outstanding fees of the Monitor and its counsel. Tax treatment not stated. · party: Monitor and its legal counsel · amount: 26849.3 · period: unpaid invoices outstanding as of December 31, 2025 · currency: CAD
- purchaserprice: sealed: false · scope: Lot 3 in the SISP · status: approved · name note: Successful Bidder for Lot 3 - Halibut License & Quota under the SISP · structure: assets · name source: recital · relationship: unstated; price: note: listing price reduced effective December 1, 2025 for each of R.S. Journey II and the Groundfish Licenses; no acceptable offers received · basis: cash · amount: 1600000 · sealed: false · currency: CAD · scope: R.S. Journey II and the two groundfish licenses owned by ICI (the Excluded Assets) · status: not_completed · name note: unnamed interested parties/offerors for the Excluded Assets (R.S. Journey II vessel and groundfish licenses) · structure: assets · name source: recital · relationship: unstated
- report date19 January 2026
- report noNinth Report
- sale advisorMaritime Marine Brokerage
- sale outcometext: Sale of Lot 3 to the Successful Bidder approved and CCAA proceeding continuing solely to close that transaction; Excluded Assets remain unsold with no acceptable offers received · scope: ancillary · status: not_completed