#Report
The officer filed report no. Interim Report under Section 246(2). All of Newsweb's assets have been realized to the extent possible, and realizations are insufficient to repay secured creditors, leaving no funds for other creditors.
Newsweb Printing and Distribution Inc.
FollowActive
- Proceeding
- Receivership (court-appointed)subsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-13-10131-00CL
Filings held9
Last activity1 Sep 2015
On the record4,847 days
Secured debt$4.17M
OverviewSummary updated
Newsweb Printing and Distribution Inc. was placed in court-appointed receivership on 14 June 2013 by the Ontario Superior Court of Justice (Commercial List), under subsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, on the application of the Royal Bank of Canada (court file CV-13-10131-00CL). The Fuller Landau Group Inc. was appointed as receiver. Secured claims include $4,167,689.14 owed to the Royal Bank of Canada and $335,689.14 to BDC Capital Inc., while unsecured creditors are reported at $875,187.55. A statement of assets as at 28 May 2013 totalled $1,273,000, mainly fixed assets. The proceeding remains active.
Proceedings AIAsk this case — answers cite the filings
Case updates10 dated entries
#Sale
The court granted an approval and vesting order. Court file CV-13-10131-00CL.
Source: approval and vesting order morawetz j june 14 2013.pdf
#Order
The court granted an interim order on 14 June 2013, appointing The Fuller Landau Group Inc. as receiver.
Source: approval and vesting order morawetz j june 14 2013.pdf
Parties
Debtor
Newsweb Printing and Distribution Inc.
Receiver
Fuller Landau
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Morawetz | Ontario Superior Court of Justice | 1 order, May 2013 | 130 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverFuller Landau | Davis LLP (now Dla Piper LLP) | 18 Jun 2013 | Service list · 18 Jun 2013 |
| ApplicantRoyal Bank of Canada | Aird & Berlis LLP | 18 Jun 2013 | Service list · 18 Jun 2013 |
| CreditorBDC Capital Inc | Borden Ladner Gervais LLP | 18 Jun 2013 | Service list · 18 Jun 2013 |
| CreditorMerit Paper & Bag Company Limited | Clark, Farb, Fiksel | 18 Jun 2013 | Service list · 18 Jun 2013 |
| CreditorRoyal Bank of Canada | Aird & Berlis LLP | 28 May 2013 | Order · 28 May 2013 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Royal Bank of Canada · in 556 casesGeneral Security Agreement (GSA) — debtor: Newsweb Printing and Distribution Inc. · as of 28 May 2013 | $4.17M | receiver notice - newsweb.pdf |
| 4 | Secured | BDC Capital Inc. · in 30 casesGeneral Security Agreement (GSA) — debtor: Newsweb Printing and Distribution Inc. · as of 28 May 2013 | $336K | receiver notice - newsweb.pdf |
| 4 | Secured | Jim WalshPromissory Note — Individual creditor — debtor: Newsweb Printing and Distribution Inc. · as of 28 May 2013 | $147K | receiver notice - newsweb.pdf |
| 4 | Secured | RDA Inc. · in 4 casesPromissory Note — debtor: Newsweb Printing and Distribution Inc. · as of 28 May 2013 | $77.5K | receiver notice - newsweb.pdf |
| 4 | Secured | Doreen Iannuzzi · in 3 casesPromissory Note — Individual creditor — debtor: Newsweb Printing and Distribution Inc. · as of 28 May 2013 | $15.5K | receiver notice - newsweb.pdf |
| 4 | Secured | National Leasing Group Inc. · in 52 casesLease — Amount owed stated as 'Unknown' — debtor: Newsweb Printing and Distribution Inc. · as of 28 May 2013 | — | receiver notice - newsweb.pdf |
| 4 | Secured | Ford Credit Canada Leasing · in 23 casesLease — Amount owed stated as 'Unknown' — debtor: Newsweb Printing and Distribution Inc. · as of 28 May 2013 | — | receiver notice - newsweb.pdf |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) · in 532 casesAppendix A itemised listing not included in provided pages; document names individual creditors in an appendix not present here. — debtor: Newsweb Printing and Distribution Inc. · as of 28 May 2013 | $875K | receiver notice - newsweb.pdf |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Sale processPer the transactions
Sale approvedapproval and vesting order morawetz j june 14 2013.pdf · 14 Jun 2013
| Purchaser | Price | Status | Source |
|---|---|---|---|
| purchaser under the Auction Agreement/at auction, unnamedsome or all of the Fixed Assets as described in the Auction Agreement · auction | not stated | Approved14 Jun 2013 | approval and vesting order morawetz j june 14… |
AdvisorsMaynards Canada (auctioneer)approval and vesting order morawetz j june 14 2013.pdf
Closing termsVesting occurs upon delivery of the Receiver's Certificate confirming payment, satisfaction/waiver of closing conditions, and completion of the Transaction.approval and vesting order morawetz j june 14 2013.pdf
Sealed materialsappendices relating to three auction proposals attached to the Receiver's First Reportapproval and vesting order morawetz j june 14 2013.pdf
Estate financialsReported figures — never derived
Total assets at filing$1.27M
As at 28 May 2013 · per Approximate Net Book Value · Newsweb Printing and Distribution Inc. (assets under receivership) — Figures in $000's per table header; comprises fixed assets 1,014, intercompany receivable 176, accounts receivable 39, inventory 35, prepaids 9.
Cumulative receipts
$62.8K
As at 28 May 2015Interim Report Under Section 246(2) to May 28, 2015
Cumulative disbursements
$58.8K
As at 28 May 2015Interim Report Under Section 246(2) to May 28, 2015
Documents
9 filings
| Date | Document | File |
|---|---|---|
Interim Report Under Section 246(2) to May 28, 2015
| ||
| 246(2) Newsweb to November 28, 2014 | ||
| 246(2) newsweb may 28-14.pdf | ||
| interim report under section 246(2) - newsweb.pdf | ||
service list for website - updated june 18 2013.pdf
| ||
approval and vesting order morawetz j june 14 2013.pdf
| ||
endorsement morawetz j june 14 2013.pdf
| ||
receiver notice - newsweb.pdf
| ||
receivership order morawetz j - multicom media may 28 2013 2.pdf
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Newsweb Printing and Distribution Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/newsweb-printing-and-distribution-inc