Nova Star Cruises, the beleaguered ferry service that shuttled passengers between Portland, Maine, and Nova Scotia for two years, has filed for bankruptcy in Canada, the Portland Press Herald reported today. According to documents filed April 13 in a Halifax district court, the company owes more than $15 million to creditors and identified only $142,000 in assets. The city of Portland is owed more than $77,000, primarily in unpaid port fees that total $57,894. Singapore Technologies Maritime Ltd., the owner of the Nova Star ferry, tops the list of creditors with $11.8 million, presumably unpaid lease payments. The next largest creditor is FleetPro Ocean Inc. of Miami at $1.2 million. The court appointed Deloitte Restructuring Inc. to serve as trustee. It notified creditors of the filing yesterday, and the first meeting for creditors is set for May 4 in Yarmouth, Nova Scotia. The Nova Star ran into problems at the very beginning of its first season, in 2014. Regulatory delays pushed back the start of its sailing season, delaying ticket sales and causing it to lose charter and tour bus business that first year. Passenger numbers never reached the 100,000 goal set that first season. The Nova Star ended the season with only 59,000 people making the trek from Portland to Yarmouth, Nova Scotia.
