Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeFinanceNewsJohn Risley's CFFI gets green light for asset sale process amid $1.4-billion debtJudge finds further delays would not be in stakeholders' interests You can save this article by registering for free here. Or sign-in if you have an account.John Risley, chief executive of CFFI Ventures Inc. Photo by Keith Gosse/The Telegram filesA Nova Scotia judge on Friday approved a court-supervised sales process that will allow John Risley‘s CFFI Ventures Inc. to begin marketing its assets as part of a restructuring involving roughly $1.4 billion in debt, including about $1 billion owed to HPS Investment Partners.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorJustice John Keith authorized the proposed sale and investment solicitation process (SISP), saying the company is “buckling under staggering debt” that “far exceeds its financial worth” and that further delays would not be in the interests of stakeholders.He also said the proposed SISP would expose CFFI’s assets to the market in an orderly and transparent manner.Breaking business news, incisive views, must-reads and market signals. 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Please try againThe proposal had been opposed by SFPC Quantum LP, a secured creditor with interests tied to CFFI’s stake in Cormorant Utility Services Ltd., which said the shares should instead be marketed through a separate standalone process.Keith rejected that approach, saying it lacked a concrete plan and would create uncertainty and delay and that FTI Consulting Canada Inc., the court-appointed monitor, supported the broader sales process.CFFI has been operating under the Companies’ Creditors Arrangement Act since March.The approved SISP calls for notices of intent to bid by July 21 and binding offers by Aug. 11, with a potential auction the following week.SFPC Quantum said bidders should be given additional time, proposing deadlines extending into late September, but Keith approved CFFI’s proposed timetable and granted the monitor authority to extend deadlines by up to two weeks if necessary. 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