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Ocean Choice International LP (OCI) pleased with Supreme Court decision

January 13, 2016

Ocean Choice International LP (OCI) is extremely pleased with the January 12th decision of the Supreme Court of Newfoundland and Labrador which dismissed, in its entirety, the action brought by Landvis Canada Inc., Landvis ehf and two of Landvis’ principals against OCI and a number of its related entities and senior executives. Landvis Canada Inc. and its co-plaintiffs are controlled by Icelandic interests.

Landvis Canada Inc. filed a claim with the Supreme Court of Newfoundland and Labrador in September 2015 making a wide variety of allegations against OCI, its related companies, and principals. Ultimately, Landvis was seeking to have the court remove the general partner; establish a process whereby they as the minority partner could buy out the majority partners’ interests, as well as other auxiliary relief.

Yesterday, Justice David B. Orsborn of the Supreme Court of Newfoundland and Labrador (Trial Division) ruled in OCI’s favour, setting aside the statement of claim in its entirety and dismissing the plaintiffs’ claims.

“It was a clear and unambiguous decision and we are very pleased that Justice Orsborn completely accepted our position,” said Martin Sullivan, Chief Executive Officer with OCI. “We have a great seafood company and an excellent group of colleagues and we have always taken great pride in operating this company in a responsible manner.”

“We believed from the outset that there was absolutely no merit to the claim filed by Landvis and that they were simply seeking to divert control to themselves in a manner that was not in the best interests of OCI or our province,” added Blaine Sullivan, Chief Operating Officer with OCI. “I am pleased that the claim was dismissed in its entirety and we appreciate the tremendous support we received throughout the process”.

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About OCI

Ocean Choice International is one of Canada’s leading vertically integrated seafood harvesting, processing, and marketing companies with operations throughout Atlantic Canada and Sales and Marketing offices around the world. As Canada’s largest wild fish quota holder, OCI is a leader in fishing and processing technology and market development. For further information visit www.oceanchoice.com.

Media Contact:
Paula Kieley, OCI
T: (709) 782-7122
E: pkieley@oceanchoice.com

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