HALIFAX — A Nova Scotia court has approved the sale of most of the assets owned by seafood tycoon John Risley’s insolvent holding company to a New York-based firm. Nova Scotia Supreme Court Judge John Keith approved the asset transfer Friday, allowing debt-laden CFFI Ventures Inc. to hand most of its holdings to New Tide Capital LP, an independent investment advisory firm. CFFI Ventures was placed under creditor protection in March after it collapsed under nearly US$1 billion in debt. The court-appointed monitor overseeing the transaction says New Tide will assume US$1.12 billion of CFFI’s liabilities, as well as an equity interest, most of CFFI’s cash and a collection of artworks. New Tide is an affiliate of New York-based alternative investment firm HPS Investment Partners LLC, which held the majority of CFFI’s debt. Court documents show the debt owed to HPS began as a US$250-million loan in 2017, which grew to nearly US$1 billion after interest rates rose as high as 28 per cent when CFFI stopped making payments. This report by The Canadian Press was first published Sept. 18, 2026.
