Ocean View Farms Obtains CCAA Protection Amid $7M Debt Load

Ocean View Farms Ltd., a large Newfoundland dairy farm, obtained protection under the Companies’ Creditors Arrangement Act (CCAA) on September 11, 2025. The application came in response to demands from its primary lender, the Bank of Nova Scotia, owed over $7 million.

Based in the Town of Bay Bulls, Ocean View operates a 660-acre dairy farm with 530 workable acres, a 140-stall milking barn, heifer facilities, manure pits, and extensive equipment ranging from John Deere tractors to forage harvesters. The company values its land, buildings, and equipment at roughly $9.5 million, though these figures are farmer-estimates rather than formal appraisals.

According to the company, its distress is tied to rising interest burdens and accumulated trade payables. Interest on its BNS facilities alone exceeds $55,000 per month at rates of 8.85%–9.45%. Suppliers including feed, genetics, and transport companies are owed $166,918 on an unsecured basis.

Ocean View sought to pursue a restructuring under CCAA with S.R. Stack & Company acting as proposed monitor, aiming to stabilize operations while assessing refinancing options and the potential sale of assets.

BNS opposed the CCAA application, arguing the company lacked a viable restructuring path and had already been seeking to refinance the BNS loan for 12 months. In the alternative, the bank urged the court to appoint an alternative monitor if protection were granted. The court nevertheless issued the initial order, appointing S.R. Stack as monitor.

The coming weeks will determine whether Ocean View can secure refinancing or other arrangements to bridge its heavy debt load and sustain operations in Newfoundland’s dairy sector.

Professionals: S&R Stack is the monitor. Counsel are O'Keefe & Sullivan for Ocean View, Boyne Clarke for the monitor, and Cox & Palmer for BNS.