Ontario · Receivership (court-appointed)
Notice of Receiver - Form 87
Notice of receiver (s. 245 / Form 87) · 2 October 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing67 verified
- financial positionnote: Asset side only; no total liabilities stated. Component dates differ: accounts receivable as of Sept 11, 2026; inventory as at Jan 31, 2026; other receivables, deposits and advances, PP&E, intangibles and loans receivable as at Sept 30, 2025. Components (CAD): accounts receivable 284,239; inventory 3,371,857; other receivables 1,900,000; deposits and advances 593,438; PP&E 38,466,736; intangible assets 1,372,297; loans receivable 13,839,700. Schedule A potential secured creditors total $31,210,366 and Schedule B unsecured creditors total $5,565,065, as stated by the Receiver; these are not presented as a liabilities total. The Receiver has not decided whether to restart operations; the plant has been idle since appointment. · page: 1 · basis: Receiver's Form 87: book value 'according to the available books and records of the Debtors'; 'Management of the Debtors has advised that the Debtors do not maintain up-to-date financial statements.' Amounts reflect books and records as at March 31, 2025 unless otherwise noted, and 'have not been audited, reviewed or otherwise verified.' · scope: Novo Plastics Inc. and 2139654 Ontario Limited (the Debtors), property in the Receiver's possession or control; entity split not given · currency: CAD · total assets: 59828267
- secured creditorsnote: Amount shown as 'Unknown' in Schedule A; potential secured creditor. · page: 3 · creditor: Royal Bank of Canada · currency: CAD
- secured creditorsnote: Potential secured creditor per Schedule A; TD Bank is the applicant for the receivership appointment (pages 6, 7). Amount as reported by the Receiver. · page: 3 · amount: 30983604 · creditor: The Toronto-Dominion Bank · currency: CAD
- secured creditorsnote: Potential secured creditor per Schedule A; amount as reported by the Receiver. · page: 3 · amount: 7066 · creditor: Yale Industrial Inc. · currency: CAD
- secured creditorsnote: Listed as a 'potential secured creditor' in Schedule A: has asserted a security interest or appears in the PPSA registry; amount as reported by the Receiver, not verified. · page: 3 · amount: 151140 · creditor: 2416924 Alberta Ltd. O/A Stride Capital · currency: CAD
- secured creditorsnote: Amount shown as 'Unknown' in Schedule A; potential secured creditor. · page: 3 · creditor: Humberview Group Leasing Inc. · currency: CAD
- secured creditorsnote: Potential secured creditor per Schedule A; amount as reported by the Receiver. · page: 3 · amount: 36238 · creditor: Dynamic Capital Equipment Finance Inc. · currency: CAD
- secured creditorsnote: Amount shown as 'Unknown' in Schedule A; potential secured creditor. · page: 3 · creditor: FA Equipment Finance, Inc. · currency: CAD
- secured creditorsnote: Amount shown as 'Unknown' in Schedule A; potential secured creditor. · page: 3 · creditor: Humberview Inc. · currency: CAD
- secured creditorsnote: Potential secured creditor per Schedule A; amount as reported by the Receiver. · page: 3 · amount: 32318 · creditor: Bodkin, A division of Bennington Financial Corp. · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 7000 · creditor: Bell Canada · currency: CAD
- unsecured creditorsnote: Listed by the Receiver as unsecured; the document does not say whether any portion is a deemed-trust claim. · page: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 728899 · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 129887 · creditor: Container Corporation of Canada · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 1051 · creditor: City Label Co. Ltd. · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 3238 · creditor: Colorex (Marli Plastics) · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 118 · creditor: Cedar Springs · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 3200 · creditor: Challenger Transport · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 22901 · creditor: Digital Business Systems · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 1914 · creditor: DME Company LLC · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 4057 · creditor: Export Development Canada · currency: CAD
- unsecured creditorsnote: Employer Health Tax; governmental claim. · page: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 4384 · creditor: Minister of Finance (Ontario) - EHT · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 536 · creditor: E&J Supply Inc. · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 8013 · creditor: Engel Canada · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 2567 · creditor: Environmental 360 Solutions Ltd. · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 14000 · creditor: FedDev · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 157 · creditor: FedEx Canada · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 4503 · creditor: GTA Custom Pallets Inc. · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 2864 · creditor: GT French · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 678 · creditor: Gengroup Crane Corp · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 135142 · creditor: Integrity Tool & Mold Inc. · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 590 · creditor: IMS Company · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 35352 · creditor: Jonas Corporation · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 18292 · creditor: Keypak · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 26552 · creditor: Messer Canada Inc. · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 4574 · creditor: Mammone Disposal Systems Ltd. · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 5965 · creditor: McMaster Carr Supply Co. · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 1474 · creditor: Meyers Carousel Colours · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 28565 · creditor: Leading Freight · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 345852 · creditor: Alectra Utilities · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 35553 · creditor: ABC Technologies · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 2605 · creditor: ADP Canada · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 864 · creditor: Abflex Rubber Inc. · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 1269 · creditor: AceTronic Industrial Control · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 1921 · creditor: Alpine General Contracting · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 7000 · creditor: Aarkel Injection Technologies · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 21481 · creditor: Air Liquide · currency: CAD
- unsecured creditorspage: 4 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 30142 · creditor: BDO Canada LLP · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 446 · creditor: MPI Morheat · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 1126 · creditor: Noble Corporation · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 7836 · creditor: Naztech Mechanical Corporation · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 2599 · creditor: Open Text · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 693 · creditor: Parkwood & Cavanaugh · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 114683 · creditor: Petainer Inc. · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 5239 · creditor: Progressive Industrial Fluid · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 27993 · creditor: Plastique Energy GPR · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 83259 · creditor: Proactive Supply Chain Group · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 5000 · creditor: Rogers Inc. · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 410487 · creditor: SM Polymers Inc. · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 7462 · creditor: Smart & Biggar · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 2572 · creditor: Superior Propane · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 631 · creditor: Thomas Computer Supplies · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 62904 · creditor: Umbra Group · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 179 · creditor: Walmart · currency: CAD
- unsecured creditorsnote: Statutory insurance board claim; the document does not state any priority treatment. · page: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 27796 · creditor: Workplace Safety and Insurance Board · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 30000 · creditor: 407 ETR Concession Company Limited · currency: CAD
- unsecured creditorsnote: Co-debtor in the receivership, listed as an unsecured creditor (intercompany balance, presumably owed by Novo; the document does not say so expressly). Included in the Schedule B total of $5,565,065. · page: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 3051000 · debtor: Novo Plastics Inc. · creditor: 2139654 Ontario Limited · currency: CAD
- unsecured creditorspage: 5 · basis: Schedule B – Unsecured Creditors (Receiver's listing) · amount: 80000 · creditor: Miller Thomson · currency: CAD