Manitoba · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 7 February 2025
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What we verified from this filing7 verified
- secured creditorsnote: Amount is approximate figure from Matson Affidavit ('approximately $1.9 million'), plus legal fees, costs, and expenses, with interest continuing to accrue; Security Opinion (May 11, 2024) from Pitblado LLP confirmed the BDC Security is valid and enforceable, but did not opine on priority as against other secured parties. · page: 4 · as of: 2023-11-23 · amount: 1900000 · debtor: Kromar Printing Ltd. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: First ranking security positions (BDC Security) including PPSA (Manitoba) registrations and Real Property Act (Manitoba) registrations
- secured creditorsnote: Additional secured parties identified in the May 11, 2024 Security Opinion from Pitblado LLP; the opinion did not address priority as between these parties and BDC. · page: 21 · as of: 2024-05-11 · debtor: Kromar Printing Ltd. · creditor: PPSA equipment financiers (PMSI class): Jaycap Financial Ltd., CWB National Leasing Inc., WBG Auto Ltd., Hitachi Capital Canada Corp., 7303948 Manitoba Ltd., Volume Freight Solutions Inc. · currency: CAD · security: PPSA (Manitoba) registrations identified in the Security Opinion; no balances or registration limits disclosed
- secured creditorsnote: Deemed trust priority claim (CRA GST Property Claim) out of aggregate unremitted GST of approximately $549,838 as at the Date of Receivership; results of CRA trust examination provided February 29, 2024. · page: 22 · as of: 2024-02-29 · amount: 459401 · debtor: Kromar Printing Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD
- secured creditorsnote: Regulatory municipal property tax claim; Real Property was sold in a tax sale December 9, 2022 for unpaid taxes 2019-2022, title remained with Company; redemption amount stated as at August 30, 2023. · page: 22 · as of: 2023-08-30 · amount: 372585 · debtor: Kromar Printing Ltd. · creditor: City of Winnipeg · currency: CAD · security: Tax certificate/tax sale registration against the Real Property (Manitoba LTO)
- secured creditorsnote: Regulatory claim - unremitted retail sales tax (RST), per notice of assessment dated March 7, 2024. · page: 22 · as of: Date of Receivership · amount: 2400 · debtor: Kromar Printing Ltd. · creditor: Manitoba Finance Taxation Division · currency: CAD
- secured creditorsnote: Deemed trust priority claim (CRA Source Deduction Property Claim) out of aggregate unremitted payroll source deductions of approximately $1,902,394 as at the Date of Receivership; results of CRA trust examination provided February 29, 2024. · page: 22 · as of: 2024-02-29 · amount: 1203286 · debtor: Kromar Printing Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD
- secured creditorsnote: Statutory priority claim under sections 81.3(1) and 81.4(1) of the BIA for unpaid wages/vacation pay to former employees under the Wage Earner Protection Program; amount per Service Canada correspondence dated December 28, 2024. · page: 23 · as of: 2024-12-28 · amount: 28085 · debtor: Kromar Printing Ltd. · creditor: Government of Canada (Service Canada / WEPP) · currency: CAD