Technicolor Canada Inc. filed a Notice of Intention to make a proposal under BIA s. 50.4 on February 26, 2025, in the Superior Court of Québec (file no. 500-11-065334-258). An unaudited internal balance sheet as at December 31, 2024, covering the Canadian entity's MPC and Mikros divisions, reports total assets of $29,916,000 CAD against total liabilities of $63,816,000 CAD. A separate liabilities statement dated February 28, 2025 puts total liabilities at $62,685,000 CAD, with no corresponding asset figure supplied. Secured claims include GLAS SAS, as bond subscriber and agent, holding $170,500,000 CAD in subscribed bonds secured by a $230,000,000 CAD registered security interest over all movable property, and GLAS Trust Company LLC, agent for a lending syndicate, listed for $200,000,000 CAD. The creditor list also shows an aggregate employee claim of $4,150,000 CAD and multiple intercompany claims owed to Technicolor India Pvt Ltd entities.
The officer filed a report. By the time of this report, virtually all of Technicolor Canada's assets had already been sold via approved transactions, MPC's Toronto and Montreal operations had ceased with employees laid off, and after failing to file a proposal by the extended deadline the debtor was deemed to have made an assignment in bankruptcy on August 12, 2025, with PwC now acting as trustee.
The court granted an approval and vesting order for the sale to Herne Hill Media Inc. Closing terms, as extracted: Vesting occurs upon issuance of the Trustee's Certificate confirming payment of the Purchase Price and satisfaction/waiver of closing conditions. Sealed: Purchase Agreement (Exhibit R-1).
The court granted an approval and vesting order for the sale to RodeoFX inc. Sealed: Offre d'achat (Pièce R-1) et Annexes B, C et E du Rapport (Pièce R-4).
When a Canadian employer goes bankrupt or into creditor protection, its workers are owed pay it cannot meet. What ranks first, what the Wage Earner Protection Program pays and how to apply, and what happens to severance, pensions, benefits and jobs when the business is sold, drawn from the court record.
Parties
Debtor
Technicolor Canada Inc.
Proposal trustee
PwC
Bench and counselPer the orders and service lists on the record
GLAS Trust Company LLC (Agent du syndicat de prêteurs / Agent for the lending syndicate)Listed as agent for a syndicate of lenders; no security description given on this page. — debtor: Technicolor Canada Inc.
$200M
Amended List of Creditors
4
Secured
4
Secured
8
Unsecured
8
Unsecured
8
Unsecured
8
Unsecured
8
Unsecured
8
Unsecured
8
Unsecured
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89 more claims in 2 classes The stack holds Secured and Unsecured claims.
RodeoFX inc.les Actifs achetés · asset sale · nominee/assignee: société à être formée, ou tout autre société désignée par RodeoFX inc. · agreement 13 Mar 2025
Herne Hill Media Inc.the trademarks and registrations described in the Purchase Agreement, and as further described in Schedule "A" attached hereto (the "Purchased Assets") · asset sale
RodéoFXactifs de la Débitrice (contrats énumérés, employés repris, équipements et autres actifs tangibles et intangibles vendus) · asset sale · agreement 28 Mar 2025
offrant non sollicité, ancienne entité propriétaire des marques, non nomméecertaines marques de commerces reliées à Mr. X (les « Marques de commerce ») · asset sale
Closing termsVesting occurs upon issuance of the Trustee's Certificate confirming payment of the Purchase Price and satisfaction/waiver of closing conditionsApproval and Vesting Order
PurchaserRodéoFX · certains actifs / la convention d'achat d'actif relative à la transaction · asset sale · closed
Sale outcomeSale closed — À la suite de l'approbation de la transaction par le tribunal le 25 mars dernier, le Séquestre intérimaire, les avocats de la Débitrice et les avocats de l'acheteur ont travaillé conjointement à la clôture de la transaction avec Rodéo FX
Closing termsVesting occurs upon issuance of the Trustee's Certificate confirming payment of the Purchase Price and satisfaction/waiver of closing conditions
Order date12 May 2025
Presiding officerRegistrar Vincent-Michel Aubé
PurchaserHerne Hill Media Inc. · the trademarks and registrations described in the Purchase Agreement, and as further described in Schedule "A" attached hereto (the "Purchased Assets") · asset sale · approved
PurchaserRodéoFX · actifs de la Débitrice (contrats énumérés, employés repris, équipements et autres actifs tangibles et intangibles vendus) · asset sale · closed; offrant non sollicité, ancienne entité propriétaire des marques, non nommée · certaines marques de commerces reliées à Mr. X (les « Marques de commerce ») · asset sale · proposed
Sale outcomeSale closed — Vente d'actifs à Rodéo FX conclue et transition en cours; offre pour marques de commerce recommandée pour acceptation
Process results36 solicited · 24 NDAs · 8 LOIs · as of 7 Mar 2025
Purchaserl'offrant retenu, non identifié dans le texte fourni · les activités de la Société (division Mikros, actifs canadiens et périmètre français) · asset sale · proposed
Sale outcomeSuccessful bid selected — Le syndic recommande l'acceptation de la transaction proposée après un processus de sollicitation d'offres.
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CiteProceedings., “Technicolor Canada Inc.” (NOI), Superior Court of Québec. Retrieved 4 November 2026, https://proceedings.ca/case/technicolor-canada-inc
Sources last checked · summary updated 13 August 2026 · Report a correction · Printed from proceedings.ca/case/technicolor-canada-inc
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.