Topsyn Flexible Packaging Ltd, a Manitoba company, remains in active insolvency proceedings. Its Form 33 list of creditors with claims of $250 or more records Business Development Bank of Canada on three loans, at $1,430,670.00 on loan 066248-04, $101,626.00 on loan 066248-03 and $60,256.35 on loan 066248-01, and Royal Bank of Canada at $700,000.00. Also listed are Jeff Jenkins at $245,000.00, Gary Kryschuk at $243,566.45, and $195,000.00 each for 3389252 Manitoba Ltd. and 3400166 Manitoba Ltd., the latter two numbered companies. Larger trade claims include Dallas Plastics Corp. at USD 73,696.25, Leco Industries Inc. at $73,103.60, Qingdao Rizone Plastic Products Co. Ltd at $36,532.56, Poly Expert Inc. at $32,529.20, Purolator Freight at $28,490.88 and Manitoba Hydro at $22,339.84.
The officer filed report no. Seventh Report. The company's equipment sale (EPA) closed and equipment was removed, a final auction of remaining miscellaneous assets was held, and the premises are expected to be vacated and returned to the landlord by December 10, 2016; the Company will not file a proposal and is expected to be deemed bankrupt shortly thereafter.
11 earlier updates, back to 10 June 2016 — subscribers.
Debtor
Topsyn Flexible Packaging Ltd
Proposal trustee
PwC
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Business Development Bank of Canada - Loan 066248-04as of NOI filing date — Listed in List of Creditors with claims of $250 or more; secured status not explicitly stated in these pages — debtor: Topsyn Flexible Packaging Ltd. | $1.43M | Notice to Creditors - NOI Filing |
5 transactions · 3 closed · 1 proposed · 1 not completed — EPA and Customer List transactions closed; final auction of remaining assets held December 5, 2016Seventh Report of the Proposal Trustee · 8 Dec 2016
| Purchaser | Price | Status | Source |
|---|---|---|---|
| unnamed interested party purchasing equipment under EPAthe production equipment · asset sale | not stated | Proposed | Sixth Report of the Proposal Trustee |
| purchaser under executed going-concern Asset Purchase Agreement, withdrawnthe business · asset sale | not stated | Not completed | Sixth Report of the Proposal Trustee |
| purchaser under the EPA, unnamed in text providedequipment purchased under the equipment purchase agreement (EPA) · asset sale | not stated | Closed | Seventh Report of the Proposal Trustee |
| purchaser of the Customer List, unnamedthe Customer List · asset sale | not stated | Closed | Seventh Report of the Proposal Trustee |
| unnamedthe EPA transaction (equipment) | not stated | Closed2 Nov 2016 | Seventh Report of the Proposal Trustee |
Cumulative receipts
$1.76M
As at 8 Dec 2016Seventh Report of the Proposal Trustee
| Date | Document | File |
|---|---|---|
Seventh Report of the Proposal Trustee
| PDF · Subscribers | |
| Approval and Vesting Order | PDF · Subscribers | |
| Fourth Extension Order | PDF · Subscribers | |
Sixth Report of the Proposal Trustee
| PDF · Subscribers | |
Fifth Report of the Proposal Trustee
| PDF · Subscribers | |
| Third Extension Order | PDF · Subscribers | |
Fourth Report of Proposal Trustee re Topsyn
| PDF · Subscribers | |
| Second Extension Order | PDF · Subscribers | |
Third Report of Proposal Trustee re Topsyn
| PDF · Subscribers | |
| First Extension Order | PDF · Subscribers | |
| Interim Financing Order | PDF · Subscribers | |
Second Report of the Proposal Trustee
| PDF · Subscribers | |
First Report of the Proposal Trustee
| PDF · Subscribers | |
Notice to Creditors - NOI Filing
| 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., “Topsyn Flexible Packaging Ltd” (NOI). Retrieved 20 September 2026, https://proceedings.ca/case/topsyn-flexible-packaging-ltd
Sources last checked · summary updated 4 September 2026 · Report a correction · Printed from proceedings.ca/case/topsyn-flexible-packaging-ltd
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.