BlueRush Inc. and BlueRush Digital Media Corp. were placed in court-appointed receivership by order of the Ontario Superior Court of Justice (In Bankruptcy and Insolvency) on Monday, December 29, 2025, made under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The proceeding is carried under court file number CL-25-00753618 in Ontario and remains active. The receivership order is the only step recorded to date; nothing further has been entered on the record since commencement.
The court granted an approval and vesting order for the sale to Kaltura Canada Ltd., Kaltura, Inc. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate.
Source: Approval and Vesting Order of the Honourable Justice Steele dated June 5, 2026
Amended Motion Record of the Receiver dated June 4, 2026 — Application / notice of application
Placed both BlueRush entities into court-appointed receivership under BIA s. 243 and provincial Judicature Act authority, commencing the proceeding in Ontario.
Source: Receivership Order of the Honourable Justice Steele dated December 29, 2025
Application Record of the Applicant dated December 17, 2025 was filed. Court file CL-25-00753618-0000.
Source: Application Record of the Applicant dated December 17, 2025
Filing brief
BlueRush: sold without a sales process, and why that was allowed
A receiver appointed in December sold the business in June to Kaltura without ever running a formal marketing process. The reasoning is the useful part: the company had been shopped for about a year before the appointment, it had no money to run a process, and there was no evidence a further one would produce a better price. A receiver's job is the return, not the ritual.
Debtor
BlueRush Inc. & BlueRush Digital Media Corp.
Receiver
msi Spergel inc.
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 5 orders, Dec 2025 – Jun 2026 | 245 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Receivermsi Spergel inc. | Brazeau Seller LLP | 5 Jun 2026 | Order · 5 Jun 2026 |
| Applicant | Brazeau Seller LLP | 29 Dec 2025 | Order · 29 Dec 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | BDC Capital Inc. · in 34 casesGeneral Security Agreement executed by Borrower in favour of BDC dated Sept 29, 2022; General Security Agreement executed by Guarantor in favour of BDC dated Sept 29, 2022; Trademark and Patent Security Agreement (Canadian IP) dated Sept 29, 2022; Patent and Trademark Security Agreement (US IP) dated Sept 29, 2022; perfected PPSA registrations over all present and after-acquired personal property of both Debtors; unconditional Guarantee from Guarantor dated Sept 29, 2022 — Indebtedness as of Dec 16, 2025 comprises outstanding principal $2,000,000.00, interest $137,598.08, and Payment-in-Kind $ · as of 16 Dec 2025 | $2.62M | Application Record of the Applicant dated December 17, 2025 |
| Secured | |||
| Secured |
2 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount.
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See all plansThis 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.
2 transactions · 2 approved — The Transaction is hereby approvedApproval and Vesting Order of the Honourable Justice Steele dated June… · 5 Jun 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Kaltura Canada Ltd.the Canadian Buyer Purchased Assets · asset sale · agreement 6 May 2026 | not stated | Approved5 Jun 2026 | Approval and Vesting Order of the Honourable… |
| Kaltura, Inc.the U.S. Buyer Purchased Assets · asset sale · agreement 6 May 2026 | not stated | Approved5 Jun 2026 | Approval and Vesting Order of the Honourable… |
BDC Capital Inc.: shortfall.EstimatedAmended Motion Record of the Receiver · 29 May 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredBDC (the Bank, fulcrum secured creditor) | BDC Capital Inc. | — | shortfall | Estimatedper the receiver | Amended Motion Record of the Receiver · 29 May 2026 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
| Date | Document | File |
|---|---|---|
Ancillary Order of the Honourable Justice Steele dated June 5, 2026
| PDF · Subscribers | |
Approval and Vesting Order of the Honourable Justice Steele dated June 5, 2026
| PDF · Subscribers | |
Endorsement of the Honourable Justice Steele dated June 5, 2026
| PDF · Subscribers | |
Amended Motion Record of the Receiver dated June 4, 2026
| PDF · Subscribers | |
Motion Record of the Receiver dated May 29, 2026
| PDF · Subscribers | |
Endorsement of the Honourable Justice Steele dated December 29, 2025
| PDF · Subscribers | |
Receivership Order of the Honourable Justice Steele dated December 29, 2025
| PDF · Subscribers | |
Application Record of the Applicant dated December 17, 2025
| PDF · Subscribers | |
| Factum of the Applicant dated December 17, 2025 | 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., “BlueRush Inc. & BlueRush Digital Media Corp.” (Receivership (court-appointed)), Ontario Superior Court of Justice · Commercial List. Retrieved 4 November 2026, https://proceedings.ca/case/bluerush-inc-bluerush-digital-media-corp
Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/bluerush-inc-bluerush-digital-media-corp
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.