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Factorcorp 

Receivership and Bankruptcy of FactorCorp Financial Inc.

On October 17, 2007 KPMG Inc. was appointed by the Ontario Superior Court of Justice as Receiver and Manager of FactorCorp Inc. and FactorCorp Financial Inc. By a further Order of the Ontario Superior Court of Justice made on March 25, 2008, KPMG Inc. was appointed as Trustee in Bankruptcy of the Consolidated Bankruptcy Estate of FactorCorp Inc. and FactorCorp Financial Inc. The first meeting of creditors was held on April 24, 2008, at which time Inspectors were appointed to the Estate. The Receiver was discharged on March 18, 2009.

 

Trustee's Update - April 4, 2011

On February 14, 2011, the Inspectors approved a distribution of approximately $0.04 to be made to FactorCorp debenture holders with admitted claims on March 31, 2011. The cheques and the related cover letter [PDF 113KB] were mailed April 1, 2011.

 

Bankruptcy Documents

March 31, 2011 Distribution Cover Letter [PDF 114KB] March 31, 2011
Notice to Creditors by Fred Tayar & Associates [PDF 1.37MB] re Assignment of Claim Pursuant to s.38 of BIA December 8, 2008
Letter to Creditors [PDF 764KB] June 13, 2008
Minutes of First Meeting of Creditors [PDF 4.17MB] April 24, 2008
First Meeting of Creditors - Presentation [PDF 294KB] April 24, 2008
Notice of First Meeting of Creditors [PDF 148KB] April 7, 2008
Proof of Claim - Debenture Holders [PDF 99KB] April 7, 2008
Proof of Claim - Other Creditors [PDF 98KB] April 7, 2008

 

Trustee's Reports

Trustee's Second Report and Trustee's Cover Letter** [PDF 2MB] March 17, 2011
Trustee's First Report to the Court and Trustee's Cover Letter* [PDF 17MB] December 4, 2008
Report of Trustee's Preliminary
Administration
[PDF 2MB]
April 24, 2008

 

**The signed version of the Second Report was posted on August 5, 2011.

*A Supplemental Report to the First Report to the Court was not issued.

 

Court Documents

Court Order re Receiver's Discharge [PDF 95KB] March 18, 2009
Trustee's Motion Record re: Relief Sought Against Capmor and Romco [PDF 3.25MB] August 22, 2008
Court Order re: Cooperation by Capmor and Romco [PDF 80KB] August 22, 2008
Court Order re Bankruptcy [PDF 136KB] March 25, 2008
Court Order [PDF 137KB] December 28, 2007
Court Order [PDF 67KB] November 27, 2007
Court Order re Extension of receivership [PDF 684KB] October 30, 2007
Court Order re Confidentiality [PDF 152KB] October 30, 2007
Court Order [PDF 660KB] October 17, 2007

 

Receiver's Reports  

Motion Record for March 18, 2009 including Receiver's
Fifth Report to the Court
[PDF 96KB]
March 12, 2009
First Supplemental Report to Receiver's Fourth Report to the Court [PDF 96KB] March 20, 2008
Motion Record for March 25, 2008 [PDF 2.34MB], including Receiver's Fourth Report to the Court(Part 1 of 2) March 10, 2008
Motion Record for March 25, 2008 [PDF 2.77MB], including Receiver's Fourth Report to the Court(Part 2 of 2) March 10, 2008
Supplemental Report to the Receiver's Third Report to the Court [PDF 180KB] December 27, 2007
Receiver's Third Report to the Court [PDF 1.26MB] December 19, 2007
Supplemental Report to Receiver's Second Report to Court [PDF 69KB] November 26, 2007
Receiver's Second Report to the Court [PDF 1.32MB] November 21, 2007
Receiver's First Report to the Court [PDF 1.01MB] October 29, 2007

Notice and Statement of the Receiver [PDF 329KB]

October 29, 2007

 

Notices to Debenture Holders

Notice to Stakeholders [PDF 102KB] October 22, 2010
Notice to Debenture Holders [PDF 403KB] February 29, 2008
Notice to Debenture Holders [PDF 518KB] January 29, 2008
Notice to Debenture Holders [PDF 50KB] November 14 , 2007
Notice to Debenture Holders [PDF 45KB] October 29, 2007

 

Examinations Under Oath

Examination Under Oath of Arnold Milan [PDF 5.98MB] Conducted on January 15, 2009: Transcript and Trustee's Cover Letter March 31, 2009
Examination Under Oath of Paul Zilkey [PDF 6.85MB] Conducted on September 4, 2008: Transcript and Trustee's Cover Letter December 8th, 2008
Examination Under Oath of Mark Twerdun [PDF 3.6MB] Conducted on July 10, 2008: Transcript and Trustee's Cover Letter September 3, 2008
Transcript of the Examination Under Oath of Mark Twerdun [PDF 3.87MB] Conducted on May 14, 2008 by the Office of the Superintendent of Bankruptcy May 14, 2008

 

 

Contact Information

(416) 777-8408
Email: factorcorp@kpmg.ca

Related KPMG Services

Contact Information

(416) 777-8408
Email: factorcorp@kpmg.ca