A Nova Scotia judge has awarded a Thai seafood company a summary judgment against an Arichat outfit that allegedly owes it more than CAD 2.1 million.
In early 2007, Brian Samson and his cousin, Edgar Samson, were approached by Glenn Grandy, who proposed a joint venture to import frozen shrimp from Asia to market to major food retailers in Canada.
They formed Ocean Superior International Ltd., which started buying seafood from Thai Royal Frozen Food Co. of Muang Samut Sakhon, Thailand.
“As 2008 progressed, (Ocean Superior International) began to have trouble meeting its financial commitments and, in particular, (the Arichat company) failed to make timely payment to (Thai Royal Frozen Food) for product supplied,” said a written decision released Thursday by Justice Charles Haliburton of Nova Scotia Supreme Court.
Grandy proposed selling Ocean Superior International to the Thai company or entering into some sort of joint venture with the Asian outfit to “‘gain a strong financial partner’ for its continued existence,” the judge’s decision said.
“When those overtures failed, the principals determined that OSI would cease operations.”
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