The Toronto Port Authority gave an August 22, 2014 deadline for the "Jadran" to be removed and scrapped and took bids from ship breakers for the job. The Federal Court declared the bid of entrepreneur James Sbrolla of the North American Seafood Exchange in the amount of $33,501 to be successful. Sbrolla hoped to restore the "Jadran" to a floating restaurant; however, the removal of the ship was delayed due to problems in having the hydro transformer removed, and plans to find a new berth for the ship fell through. Sbrolla then proposed to have tugboats tow the ship out of harbour and move it to a private slip at the foot of Parliament Street where the ship would be stripped of salvageable elements with the remainder of the ship to be scrapped. However, the Toronto Port Authority terminated the deal and returned Sbrolla's payment after rejecting his proposal as it would have required tearing the ship apart in harbour, a plan which the authority did not "feel comfortable proceeding with".