Harbour Grace shipyard enters creditor protection as owners face financial headwinds

November 8, 2023 Canada

One of Newfoundland and Labrador’s largest shipyards, Harbour Grace Ocean Enterprises, has been granted court protection from its creditors as it struggles with a serious cash flow problem. The company is nearly $16 million in debt, and creditors have been demanding payment. Last week, the Supreme Court of Newfoundland and Labrador approved an order that temporarily protects the company from its creditors as it looks for a way forward. The court also appointed professional services firm PricewaterhouseCoopers to monitor the company. The shipyard employs 56 full-time employees and is described in court documents as “one of the largest marine vessel, repair, refit and construction businesses in Eastern Canada.” >>click to read<< 13:10

56 full-time employees, cash flow problem, Companies' Creditors Arrangement Act, enters creditor protection, financial struggles, Gray Enterprises Limited, Harbour Grace, Harbour Grace Ocean Enterprises, Harbour Grace shipyard, Newfoundland and Labrador, owned by Kevin English, Paul Lannon, PricewaterhouseCoopers, shipyard's majority owner, Supreme Court of Newfoundland

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The New England groundfish debacle (Part III): who or what is at fault? Nils E. Stolpe/FishNet

It took me a while to decide how to most accurately describe the situation that has been visited upon the New England fishing communities that are and since colonial times have been dependent on the groundfish fisheries.

NILS STOLPE: The New England groundfish debacle (Part IV): Is cutting back harvest really the answer?

While it’s a fact that’s hardly ever acknowledged, the assumption in fisheries management is that if the population of a stock of fish isn’t at some arbitrary level, it’s because of too much fishing. Hence the term “overfished.” Hence the mandated knee jerk reaction of the fisheries managers to not enough fish; cut back on fishing. What of other factors? They don’t count. It’s all about fishing, because fishing is all that the managers can control; it’s their Maslow’s Hammer. When it comes to the oceans it seems as if it’s about all that the industry connected mega-foundations that support the anti-fishing ENGOs with hundreds of millions of dollars a year in “donations” are interested in controlling. Read the article here

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