#Report
MNP Ltd. was appointed receiver of Syncapse Corp. on July 23, 2013, on the application of BDC Capital Inc.
Syncapse Corp. (Receivership)
FollowClosed
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- CV-13-10195-00CL
OverviewSummary updated
Syncapse Corp. is under court-appointed receivership under section 243 of the Bankruptcy and Insolvency Act, commenced July 23, 2013, in the Ontario Superior Court of Justice's Commercial List (court file no. CV-13-10195-00CL), on the application of BDC Capital Inc. MNP Ltd. was appointed receiver. BDC Capital Inc. holds a general security agreement over all property and assets of Syncapse Corp. and Syncapse Media Inc. from a $2.0 million loan facility, and is owed $1,900,000.00 by the two companies as of the receivership's commencement, ranking subordinate to Silicon Valley Bank except on intellectual property, where the two rank pari passu. Silicon Valley Bank was owed approximately USD $1.5 million as of July 19, 2013; by August 22, 2013, following a paydown that included USD $150,000.00 the receiver borrowed from SVB under Receiver's Certificate No. 001, the balance stood at USD $73,767.00.
Case updates1 dated entry
Parties
Debtor
Syncapse Corp. (Receivership)
Receiver
MNP
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | BDC Capital Inc. · in 30 casesas of commencement of the receivership proceedings — General security agreement dated September 22, 2010 over all property and assets of Syncapse; loan facility of $2.0 million originally advanced — Ranks pari passu with SVB on intellectual property per inter-creditor agreement dated July 6, 2012; subordinate to SVB on all other assets — debtor: Syncapse Corp. and Syncapse Media Inc. | $1.9M | Receivers first report dated august 23 2013 |
This 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.
1 more claim across lower-ranking classesSubscribe to view
RecoveriesAs stated in the filings
Closed · the record states no distribution outcome.
Documents1 filing
| Date | Document | File |
|---|---|---|
Receivers first report dated august 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., “Syncapse Corp. (Receivership)” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/syncapse-corp-rcvr