#Claims
Creditors met on September 15, 2008, the commencement date of the proceedings carried under Ontario court file number 31-1108810.
Source: Notice to Creditors package
Ad Express Canada Inc.
FollowActive
- Proceeding
- BankruptcySubsection 102(1) of the Act
- File
- 31-1108810
OverviewSummary updated
Ad Express Canada Inc., also carrying on as Publicité Ad Express Canada Inc., has been bankrupt under the BIA since September 15, 2008, with A. Farber & Partners Inc. acting as trustee in bankruptcy under estate file 31-1108810 in Ontario. The Statement of Affairs puts assets at $3,786,000 on an estimated-to-realize basis, a figure that carries an "Unknown" value for the company's 50% interest in Groupe Popcorn Inc. and may therefore be understated. Liabilities are stated at $4,391,400.12, made up of $3.00 secured, $21,185.30 preferred, $4,120,211.82 unsecured and $250,000.00 contingent. The secured figure reflects a nominal $1.00 attributed to each of three creditors holding security over assets the company leases rather than owns. Unsecured claims include $900,000 of "Unallocated Payables" estimated by management; proofs of claim filed with the trustee as at October 2, 2008 totalled $3,988,584.00. The estate remains active.
Proceedings AIAsk this case — answers cite the filings
Case updates2 dated entries
#Report
A report by the court officer in the proceedings entered the record on September 15, 2008, the date the Ontario proceedings commenced.
Source: Trustee’s Preliminary Report
Parties
Debtor
Ad Express Canada Inc.
Trustee in bankruptcy
GlassRatner
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Three creditors holding security over specific leased assets (unnamed)as of Statement of Affairs — Security over specific assets leased by the Company (not owned by Ad Express); arbitrary value of $1.00 attributed to each of the three claims to classify them as secured — Assets securing these claims are leased, not owned by the Company, so not included in Estate assets; values are nominal/arbitrary, not real balances — debtor: Ad Express Canada Inc./Publicité Ad Express Canada Inc. | $3 | Trustee’s Preliminary Report |
Estate financialsReported figures — never derived
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
Documents2 filings
| Date | Document | File |
|---|---|---|
Trustee’s Preliminary Report
| PDF · Subscribers | |
Notice to Creditors package
| 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., “Ad Express Canada Inc.” (Bankruptcy). Retrieved 20 September 2026, https://proceedings.ca/case/ad-express-canada-inc