Newtek Automotive Inc./Newtek Automotive Midwest, Inc.
- Proceeding
- Receivership (court-appointed)subsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- 13-9982-00CL
Newtek Automotive Inc. and Newtek Automotive Midwest, Inc. have been under the control of Duff & Phelps Canada Restructuring Inc. as receiver and manager since January 23, 2013, when the Ontario Superior Court of Justice made the appointment on the application of Bank of Montreal under subsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act (court file 13-9982-00CL). As at February 13, 2013, the companies' assets were carried at an estimated unaudited book value of $19,657,000, with realizable value expected to be materially lower. Secured obligations were reported at $6,464,000, led by Bank of Montreal at $3,500,000 and Return on Innovation Capital Ltd. at $2,465,000; unsecured claims were reported at approximately $16.8 million, the largest being Qingdao Newtek Automotive Parts Co., Ltd at $5,424,590.01 and C&C Industrial Technology Ltd. at $3,637,375. The receivership remains active.
The officer filed report no. Third Report. The Company ceased operations following the Receiver's appointment, with its leases disclaimed, employees terminated, and inventory/fixed assets liquidated; the Receiver is now winding down remaining matters (duty drawback dispute, HST/withholding tax issue, books and records) and seeking its discharge.
Motion Record returnable September 14, 2015 Part 1 of 2 — Application / notice of application
Motion Record returnable September 14, 2015 Part 2 of 2 — Application / notice of application
The court granted an approval and vesting order for the sale to the Company's inventory, machinery and equipment listed on Schedule "A" hereto (the "Assets").
Application filed on January 23, 2013, commencing the court-appointed receivership proceedings in the Ontario Superior Court of Justice under court file 13-9982-00CL.
Debtor
Newtek Automotive Inc./Newtek Automotive Midwest, Inc.
Trustee in bankruptcy
Duff & Phelps
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Morawetz | Ontario Superior Court of Justice | 6 orders, Feb 2013 – Jul 2013 | 141 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorBank of Montreal | Aird & Berlis LLP | 13 Feb 2013 | Order · 13 Feb 2013 |
| CreditorDuff & Phelps Canada Restructuring Inc | Gowling Lafleur Henderson LLP (now Gowling WLG (Canada) LLP) | 15 Mar 2013 | Application · 15 Mar 2013 |
| CreditorKSV Kofman Inc | Gowling Lafleur Henderson LLP (now Gowling WLG (Canada) LLP) | 14 Sep 2015 | Endorsement · 14 Sep 2015 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | CANADA REVENUE AGENCY RE: SOURCE DEDUCTIONSAmount listed as Unknown; deemed trust class, source deductions — debtor: Newtek Automotive Inc. · as of 13 Feb 2013 | — | Notice and Statement of the Receiver |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
228 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
3 transactions · 2 closed · 1 approvedThird Report to Court dated September 8, 2015 · 8 Sep 2015
| Purchaser | Price | Status | Source |
|---|---|---|---|
| ultimate purchasers at liquidation sale, unnamedthe Company's inventory, machinery and equipment listed on Schedule "A" hereto (the "Assets") · auction · agreement 15 Mar 2013 | not stated | Approved21 Mar 2013 | Approval and Vesting Order dated March 21, 2013 |
| liquidator that purchased the Company's machinery, equipment and inventorythe Company's machinery, equipment and inventory · auction | not stated | Closed | Third Report to Court dated September 8, 2015 |
| unnamedthe Company's inventory and fixed assets | not stated | Closed11 Jun 2013 | Third Report to Court dated September 8, 2015 |
BMO: paid in full.FinalThird Report to Court · 8 Sep 2015
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | BMO | — | paid in full | Finalper the receiver | Third Report to Court · 8 Sep 2015 |
| Secured | ROI | estimated | a distributionconditional | per the receiver | Third Report to Court · 8 Sep 2015 |
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.
1 blurred figure above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans4 engagements · 4 firms — latest: Gowling WLG (Canada) LLPThird Report to Court · 8 Sep 2015
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Duff & Phelps Canada Restructuring Inc.Receiver | — | — | — | Motion Record · 26 Jun 2013 | |
| Gowling Lafleur Henderson LLPCounsel | — | — | — | Motion Record · 26 Jun 2013 | |
| Gowling WLG (Canada) LLPCounsel | — | — | — | Third Report to Court · 8 Sep 2015 | |
| KSV Restructuring Inc.Receiver | — | — | — | Third Report to Court · 8 Sep 2015 |
4 blurred figures above
What each firm billed — each as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansAs at ·
Cash on hand
$435K
As at 4 Sep 2015Third Report to Court dated September 8, 2015
Professional fees
As at
1 more reported figure, and the total the debtor stated at filing
Each one as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
Order and Endorsement of Justice Penny dated September 14, 2015
| PDF · Subscribers | |
| Motion Record returnable September 14, 2015 Part 1 of 2 | PDF · Subscribers | |
| Motion Record returnable September 14, 2015 Part 2 of 2 | PDF · Subscribers | |
Third Report to Court dated September 8, 2015
| PDF · Subscribers | |
Endorsement of Justice Morawetz dated July 4, 2013
| PDF · Subscribers | |
Order dated July 4, 2013
| PDF · Subscribers | |
Motion Record returnable July4, 2013
| PDF · Subscribers | |
Second Report to Court dated June 25, 2013
| PDF · Subscribers | |
Approval and Vesting Order dated March 21, 2013
| PDF · Subscribers | |
Endorsement of Justice Morawetz dated March 21, 2013
| PDF · Subscribers | |
Endorsement of Justice Morawetz dated March 21, 2013.pdf
| PDF · Subscribers | |
First Report to Court dated March 15, 2013
| PDF · Subscribers | |
Motion Record returnable March 15, 2013
| PDF · Subscribers | |
Notice and Statement of the Receiver
| PDF · Subscribers | |
Appointment Order dated February13 2013.pdf
| PDF · Subscribers | |
Endorsement of Justice Morawetz dated February 13, 2013
| PDF · Subscribers | |
Application Record dated January 23, 2013
| 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., “Newtek Automotive Inc./Newtek Automotive Midwest, Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/newtek-automotive-inc-newtek-automotive-midwest-inc