Ad Express Canada Inc.
- Proceeding
- BankruptcySubsection 102(1) of the Act
- File
- 31-1108810
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.
Debtor
Ad Express Canada Inc.
Trustee in bankruptcy
A. Farber & Partners
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | 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 |
| 7 | Preferred (BIA s. 136) | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
3 more claims in 2 classes The stack holds Secured, Preferred (BIA s. 136) and Unsecured claims.
Every creditor and every amount, drawn to scale.
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The 2 totals the debtor stated at filing
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See all plans| Date | Document | File |
|---|---|---|
Trustee’s Preliminary Report
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Notice to Creditors package
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CiteProceedings., “Ad Express Canada Inc.” (Bankruptcy). Retrieved 4 November 2026, https://proceedings.ca/case/ad-express-canada-inc