U&Me Beverage Company U&Me Beverage Company

U&Me Beverage Company remains in a court-appointed receivership begun on September 25, 2012, when Royal Bank of Canada obtained the appointment of MNP Ltd. as receiver under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. The matter proceeds on the Commercial List of the Ontario Superior Court of Justice under court file no. 32-1652926. A statement of affairs as at September 22, 2012 put total assets at $2,027,452.00 against total liabilities of $17,904,800.76, a deficiency of $15,877,348.76 with surplus reported as nil. Royal Bank Lease holds a $2,284,900.28 claim secured since March 28, 2011 on machinery and equipment valued at $2,000,000.00, leaving a $257,449.28 unsecured balance. The largest unsecured claims listed are Lee Miller shareholder loans at $8,911,033.93, RTW Enterprises at $2,373,467.78 and Mattel Inc at $800,000.00.