HALIFAX — Ownership of artworks dominated discussion in a Halifax courtroom Thursday as lawyers haggled over the next stage in the pending sale of debt-laden investment firm owned by Nova Scotia seafood tycoon John Risley. The artworks are part of CFFI Venture’s 1,281-piece collection, valued at close to $14 million and includes works by Maud Lewis, Christopher Pratt and Group of Seven members A.Y. Jackson, Arthur Lismer and J.E.H MacDonald. During the hearing Thursday, the court heard that Risley claims ownership of 669 artworks because he purchased them himself, not through the insolvent investment firm. Nova Scotia Supreme Court Justice John Keith is set to make a decision on the pending sale Friday, which could see CFFI Ventures sell most of its holdings to New York-based New Tide Capital LP. A lawyer representing New Tide told the court that if the sale is approved, the company would negotiate an out-of-court deal with Risley regarding ownership of the artworks. In 2017, CFFI borrowed US$250 million from a group of companies led by HPS Investment Partners, a private equity firm based in New York. Under increasing interest rates, that loan inflated into a debt reaching nearly US$1 billion. This report by The Canadian Press was first published Sept. 17, 2026. Tori Fitzpatrick, The Canadian Press
