Fishing companies, investors, and many businesses are expressing objections to Rodger May winning the bid for Peter Pan Seafood’s remaining assets on Oct. 3. May was one of the original investors in Peter Pan before it entered receivership.

According to Alaska Beacon, the financial firm overseeing the receivership proposed last week to sell the company’s three processing plants and an array of other assets to May, who outbid Silver Bay Seafoods in the auction. The hearing on the proposal is set for this Thursday in a courtroom in Seattle, where a judge will consider the wide-ranging objections filed in court last week by opponents of the sale.

The opponents who filed the objections include investors who partnered with May to buy Peter Pan from a Japanese seafood company in 2020. In 2021, Peter Pan Seafood Company, LLC was formed, which combined the value-added sales channels of Northwest Fish Co, LLC with the facilities, operations, and management of Peter Pan.

Affiliates of Los Angeles-based Renewable Resources Group and Anchorage-based McKinley Management were under a consortium for four years with May. They stated he is an “insider whose inequitable conduct has both depressed the market for, and eroded the value of, Peter Pan’s assets.” They have also noted to sources that Silver Bay is a better fit to buy the assets.

May, an entrepreneur and fish trader, bid $37.3 million for the assets of Peter Pan Seafood, including two processing plants—one in Dillingham, AK, and the other in Port Moller, AK. According to Seafood Source, Joh Ketcham, an investor owed $10 million by Peter Pan, also objected to May’s bid. He argued that his debt is the priority over May’s $12 million claim, which May will use to pay for a portion of the sale price.

Ketcham, Renewable Resources, and McKinley Management backed Silver Bay’s bid instead of May’s. Ketcham would plan to use his loan as a credit to buy the Port Moller plant.