Captain John’s floating restaurant in downtown Toronto has been sold to North American Seafood Exchange for $33,501 to turn it into scrap metal, a court decided Thursday.

Here are five things you need to know about the iconic ship:

  1. It has been docked at the foot of Yonge Street since 1975.
  2. The restaurant was owned and operated by John Letnik who came to Quebec City as a refugee from what was then the Yugoslavian province of Slovenia in 1957.
  3. The City of Toronto shut off the water supply to Captain John’s in 2012 due to outstanding rent and taxes. The city states on its website that “property taxes, including unpaid water/utility charges, interest and fees added to the tax account have been in arrears since 2002.”
  4. Letnik, who bought the boat from the Yugoslavian government, used to live on the top level.
  5. The water lot is owned by the Toronto Port Authority but was licensed to Letnik.