November 9, 2023 — A judge Wednesday approved a new venture’s $12 million offer to buy eight vessels and 48 federal and state fishing permits from bankrupt Blue Harvest Fisheries.
C&P Trawlers, a Massachusetts limited liability corporation by Cassie Canastra of New Bedford, Mass. and Charles “Butch” Payne of Montauk, N.Y., won approval of the deal from federal District Court Judge Laurie Selber Silverstein who is overseeing Blue Harvests’ Chapter 7 bankruptcy proceedings in Delaware, according to a statement from C&P Trawlers.
Canastra, now manager of C&P Trawlers, has been director of operations at the Whaling City auction Buyers and Sellers Exchange (BASE) which her family has operated for 29 years. Payne owns vessels based in Montauk that fish for New England species including squid and whiting.
Blue Harvest’s sudden declaration of bankruptcy shook the groundfish industry and New Bedford, where Blue Harvest had acquired many local vessels and promised a revitalization of the groundfish business. Local business and political leaders have long feared a loss of vessels and permits from the port.