Breaking: Canastras buy vessels, permits from Blue Harvest bankruptcy

The  owners of New Bedford’s seafood auction, closed a deal to buy out groundfish giant Blue Harvest Fisheries from bankruptcy, a move finalized Wednesday with the approval of a federal judge. After a short bidding war, Cassie Canastra submitted the highest bid of $12 million on Monday, beating out the second-highest bid from O’Hara Corporation, which is a part owner of New Bedford-based Eastern Fisheries, by $750,000. The sale includes “all the vessels, all the permits” that once belonged to Blue Harvest Fisheries. It includes eight vessels and 48 state and federal fishing permits, representing about 13% of all Northeast groundfish permits or about 250 million pounds of quota for the current fishing year. >>click to read<< 14:22

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