This afternoon we met with Deloitte to get a status update on the calculation of the rebate and a timeline for release of the rebate amount.
By focusing on the release of the rebate based on 30 lb bulk packs, the rebate amount will be released in the latter part of the week of January 5th, most likely January 8th or 9th. We’re not happy with this, the money should be paid out by now, but we did learn some important information from this afternoon’s call:
- All 15 processors have provided all information that has been requested by Deloitte. The 15 processors are:
- 3Ts Limited
- Aqua Crab Producers Inc.
- Barry Group Inc.
- Beothic Fish Processors Limited
- Fogo Island Co-Operative Society Ltd.
- Golden Shell Fisheries (2014) Limited
- Green Seafoods Ltd.
- Happy Adventure Sea Products (1991) Ltd.
- Independent Fish Harvesters Inc.
- Labrador Fishermen’s Union Shrimp Co.
- Notre Dame Seafoods
- Ocean Choice International
- Quinlan Brothers Ltd.
- Quin-Sea Fisheries Ltd.
- St. Mary’s Bay Fisheries
- Since we’re using all sales of 5-8 oz sections this year (a change from FOB Boston last year), the number of invoices is much greater than what was included in last year’s analysis. Details for a total of 2,687 individual invoices were collected (1,678 related to bulk 30 lb boxes and 1,009 related to other pack sizes), which covers approximately 50.1M in total volume (46.2M related to bulk and 3.9M related to other).
- For validation of sales records, Deloitte requested and received 150 detailed invoices from the 15 companies (ten invoices per company).
- Deloitte reported that companies have been very responsive, providing the requested documentation in a timely manner.
The rebate amount will be released in a meeting with us, ASP, and Deloitte and documented in a brief report. We will immediately pass that information along to the membership.
Following that release, there will be second meeting with Deloitte where we will have the opportunity to ask questions about the process and their findings.
We appreciate members taking the time to raise their concerns and stay engaged on this issue. We share the frustration with these timelines and will be working over the winter to ensure these loopholes and delays cannot happen again. Updates will be released to membership as soon as they become available to us.
