50549 Newfoundland and Labrador Inc. has been under court-appointed receivership in the Supreme Court of Newfoundland and Labrador since March 17, 2014, on the application of BMO Bank of Montreal under s. 243 of the BIA and provincial Judicature Act powers. BMO, owed $297,000, holds a general security agreement dated November 14, 2014 over all present and after-acquired personal property, registered at the NL PPSA on November 25, 2014 as Registration No. 12501854. Other secured claimants include De Lage Landen Financial Services Canada Inc., Ford Credit Canada Leasing, John Deere Financial Inc., CIT Financial Ltd. and JJD Holdings Ltd., alongside trust liabilities of $123,750. The receiver's asset schedule shows a trust account of $123,750, with remaining asset categories carried at nominal $1 values pending further investigation, limited books and records having been obtained. The receiver's Listing of Creditors identifies unsecured claims led by Fairview Ltd. at $79,000 and the Newfoundland Association of Realtors at $14,664. The proceeding remains active.
A claims procedure has been established — see the order for deadlines.
Per the Claims Process Order dated 27 April 2016.
The officer filed report no. Second Report. The Receiver continues to wind down the receivership, preparing agent T4A slips, addressing CRA's amended HST trust claim, and monitoring an application by an unsecured creditor (NLAR) to lift the stay and place 50549 into bankruptcy.
Source: Second Report to the Court
9 earlier updates, back to 17 March 2014 — subscribers.
Debtor
50549 Newfoundland and Labrador Inc
Receiver
PwC
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | BMO Bank of Montreal · in 40 casesGeneral Security Agreement dated November 14, 2014, over all present and after-acquired personal property, registered at NL PPSA on November 25, 2014, Registration No. 12501854 — Appointing creditor of the Receiver. — debtor: 50549 Newfoundland and Labrador Inc. | $297K | Private Receiver - 245 Notice |
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
| Date | Document | File |
|---|---|---|
Second Report to the Court
| PDF · Subscribers | |
| Supplementary Update to the First Report | PDF · Subscribers | |
| First Report to the Court | PDF · Subscribers | |
| Interlocutory Application | PDF · Subscribers | |
| Memorandum of Fact and Law | PDF · Subscribers | |
| Creditors Package - Claims Process | PDF · Subscribers | |
| Claims Process Order | PDF · Subscribers | |
Proposed Claim Process - Application Letter
| PDF · Subscribers | |
| Court Appointed Receiver - 245 Notice | PDF · Subscribers | |
Private Receiver - 245 Notice
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
Originating Application
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “50549 Newfoundland and Labrador Inc” (Receivership (court-appointed)), Supreme Court of Newfoundland and Labrador. Retrieved 20 September 2026, https://proceedings.ca/case/50549-newfoundland-and-labrador-inc
Sources last checked · summary updated 5 September 2026 · Report a correction · Printed from proceedings.ca/case/50549-newfoundland-and-labrador-inc
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.