Sound City Music Entertainment Inc. (o/a RPM Distribution)
- Proceeding
- BankruptcyBIA
- File
- 31-2467216
Sound City Music Entertainment Inc., operating as RPM Distribution, is in bankruptcy under the BIA before the Ontario Superior Court of Justice (in Bankruptcy and Insolvency) (Commercial List), court file 31-2467216, with A. Farber & Partners Inc. as Licensed Insolvency Trustee. The proceeding began with an application filed May 17, 2019, and a sale was approved by approval and vesting order on May 22, 2019. The sworn Statement of Affairs declared inventory at a book value of $8,618,159, against the Trustee's own inventory count and price-list valuation of $6,733,000 at original cost. The three Labels filed claims of $5,360,048 (Universal Music Canada Inc.), $2,042,798 (Sony Music Entertainment Canada Inc.) and $800,373 (Warner Music Canada Co.), reduced under a Litigation Settlement Agreement to $3,641,426, $1,317,230 and $405,209 respectively. Other unsecured claims aggregate $777,126. The matter remains active.
The Court granted an approval and vesting order sanctioning a sale of the estate's assets, five days after the application was filed.
Source: Order of Justice Hainey
Application filed, opening the bankruptcy proceeding; the Trustee's First Report of the same date scheduled the Labels' filed claims and the reductions to be effected by the Litigation Settlement Agreement.
Undated filings2 — no date appears on the document · show
Debtor
Sound City Music Entertainment Inc. (o/a RPM Distribution)
Trustee in bankruptcy
A. Farber & Partners
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Hainey | Ontario Superior Court of Justice | 2 orders, May 2019 | 211 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorLicensed Insolvency A. Farber & Partners Inc | Miller Thomson LLP | 22 May 2019 | Order · 22 May 2019 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Ford Credit Canada Limited · in 62 casesMotor Vehicles - Automobile - 2018 Ford F-150; estimated value of security $55,000.00 — List B (Secured Creditors); fully secured - balance of claim (unsecured shortfall) $0.00; Statement of Affairs summary shows balance of secured claims as per List B of $0.00 — debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · as of 24 Jan 2019 | $55K | Creditors Package |
| 6 | Landlord preferred | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
41 more claims in 2 classes The stack holds Secured, Landlord preferred and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale approvedOrder of Justice Hainey · 22 May 2019
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Universal Music Canada Inc., Sony Music Entertainment Canada Inc., Warner Music Canada Co.all of the Company's right, title and interest in and to the Labels' Supplied Inventory · asset sale | Subscribers | Approved22 May 2019 | Order of Justice Hainey |
Sony, Universal, Warner (Labels): shortfall.Motion Record · 17 May 2019
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | Sony, Universal, Warner (Labels) | asserted | shortfall | per the trustee | Motion Record · 17 May 2019 |
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.
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See all plansAs at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Schedule B – Terms & Conditions of Sale
| PDF · Subscribers | |
Endorsement of Justice Hainey
| PDF · Subscribers | |
Order of Justice Hainey
| PDF · Subscribers | |
Motion Record, returnable May 22, 2019
| PDF · Subscribers | |
| Amended Certificate of Appointment | PDF · Subscribers | |
Creditors Package
| PDF · Subscribers | |
Offer Form
| PDF · Subscribers | |
| Schedule A – List of Inventory | 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., “Sound City Music Entertainment Inc. (o/a RPM Distribution)” (Bankruptcy), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/sound-city-music-entertainment-inc-o-a-rpm-distribution