The company is aiming to take the barge to Bristol Bay this summer for its second salmon season, but this could derail those plans.
Right now, the barge is located in Bellingham, Washington.
We first wrote about this situation earlier this month.
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Missing the upcoming Bristol Bay salmon season would be "financially catastrophic," Northline's Ben Blakey says in this declaration filed with the court:
https://s3.documentcloud.org/documents/25924163/declaration-of-ben-blakey.pdf
Pay your bills and you can go fishing like everyone else. Don't pay your bills and go bankrupt, pretty simple.
Seems like the best way for the creditors to get paid would be for the barge to be working.
I'm still waiting for the comments about how it's now Silver Bay and Judge Lauren King's fault that Leo's Welding wants to get paid.
It's a savvy move by Zuanich. Rumor is he client shopped. Maritime law for liens is different than if this was a land-based plant.
True, Leo's Welding had a legit complaint ... will say on any major project, if the builder is not diligent, service providers can pad their expenses fairly easily.
Loss of a processor in Bristol Bay benefits all processors, not just SBS.
I do wonder how this affects SBS's wonderful new marriage to BBEDC. Though I guess BBEDC knew what they were marrying. Maybe they pay the $1.3 million bill.
SBS will own this barge soon enough — just like they got Greg's interest in Silver Bay 16 years ago.
This operation is undercapitalized. In addition to paying off last year's debts, they will need cash for supplies, towing, fuel, wages, etc., before they run the first fish. It's not likely any supplier will extend credit in meaningful amounts. And who would fish for them unless they received payment on a delivery by delivery basis?
What they need is a white knight (who understands the business i.e., not another Rodger May) to rescue them, infuse cash and put a manager in charge.
Well said, Ben.
The arrest warrant for the P/V Hannah has been issued.
https://s3.documentcloud.org/documents/25930448/hannah-arrest-warrant.pdf
A post-arrest hearing has been set for 11 a.m. May 9 via Zoom videoconference before U.S. District Judge Lauren King.
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