Fisheries and Aquaculture Loan Board calling in $945K in loans

The Nova Scotia Fisheries and Aquaculture Loan Board has called the loans for three different fishing vessels worth $945,000.

On Nov. 25, three statements of claim were filed in Federal Court. One claim is against a Barrington-based vessel called the Fall Harvest, owned by Crystal Larkin, Donna Larkin and Alexander Malone.

The statement of claim said they took out a loan in 2009 which was due on Nov. 23, 2015. The documents say the loan board is owed $194,775.12, plus interest.

Another claim involves Shawn Boudreau of Arichat and KAOS Fisheries Limited, the owner of the vessel Major KAOS.

A Transport Canada marine incident report on a vessel with that name said its engine room caught fire at the end of June 2010 off Gros Nez, N.S. That is the same year the loan was given.

The Transport Canada report said the tide pushed the vessel on shore. The three crew members abandoned it and were rescued by a passing speedboat.

Major KAOSwas reported to be a total loss, but the Fisheries Loan Board claims it is owed $216,194.39, plus interest.

The final case is for Kaidyn's Commander,a dragger owned by Joel Goodwin based in Arcadia, Yarmouth County.

According to court documents, the original loan was taken out 10 years ago. In 2006, there was an additional loan that brought the total to $786,196.54. The loan board is now looking for $534,046.28, plus interest.

A spokeswoman for the provincial agency would not comment on the specific cases, but Kristen Higdon said calling in a loan only happens "in very rare cases."

"Only after all efforts are exhausted would a decision be made to resort to the court process," she said.

"Even after taking that step, the board continues to explore a solution with the client."