UNDER THE BANKRUPTCY AND INSOLVENCY ACT NOTICE OF APPOINTMENT OF RECEIVER

UNDER THE BANKRUPTCY AND INSOLVENCY ACT
NOTICE OF APPOINTMENT OF RECEIVER
(Subsection 245(1) AND
INFORMATION STATEMENT
(Subsection 246(1))
IN THE MATTER OF THE RECEIVERSHIP
OF 50549 NEWFOUNDLAND AND LABRADOR INC.
TAKE NOTICE THAT:
1. On the 17th day of March, 2016, the undersigned, PricewaterhouseCoopers Inc., became the Court
Appointed Receiver (the “Receiver”) in respect of the property and assets of 50549 Newfoundland
and Labrador Inc. (the “Company”) pursuant to an Order of the Supreme Court of Newfoundland
and Labrador, Trial Division, in Bankruptcy and Insolvency. The property and assets of the
Company, an insolvent person, are described below:
Trust Account
Bank Account
Commission Receivables
Agent Advances
Values ($)
$124,000
$324,158
$275,000
$40,000
Note
1
2
Note 1 – Estimate.
Note 2 – Internally provided. Further investigation required.
2. The undersigned became the Court Appointed Receiver in respect of the property described above
by virtue of Court Order of the Supreme Court of Newfoundland and Labrador, Trial Division, in
Bankruptcy and Insolvency. A copy is enclosed herein.
3. The Receiver was previously appointed under a private appointment and was in possession of the
property on the 17th day of March, 2016.
4. The following information relates to the receivership:
i) Head office and mailing address of the insolvent persons:
25 Kenmount Road
St. John’s, NL A1B 1W1
ii) Principal line of business:
Real Estate Agency
iii) Location of Business:
25 Kenmount Road
St. John’s, NL A1B 1W1
5. The name of each creditor of the insolvent person as determined by the review of the books and
records of the insolvent persons that were present:
See Schedule "A".
6. Amount owed by the insolvent person to each creditor who holds security and/or asserts a trust
claim on the property described above:
Trust Liabilities
Third Party Brokerage Firms – Commissions Payable
50549 NL Ltd. Agents – Commissions Payable
BMO Bank of Montreal
AccessEasyFunds Limited
Exit Realty Corp. International
Fred Drover
Canada Revenue Agency
CIT Financial Ltd.
JJD Holdings Ltd.
De Lage Landen Financial Services Canada Inc.
John Deere Financial Inc.
Ford Credit Canada Leasing
Values ($)
$178,750
$1
$1
$392,930
$1
$1
$1
$1
$1
$1
$9,187
$13,213
$28,207
7. Receiver's intended plan of action:
The Receiver will seek to realize on the above noted assets. At this time the Receiver cannot
comment on the estimated realization for the various classes of creditors.
Unlike bankruptcy proceedings, the Bankruptcy and Insolvency Act does not require that a meeting of
creditors be held in a Receivership.
Interim reports regarding the status of the Receivership will be prepared in accordance with Section
246(2) of the Act approximately once every six months. Creditors who wish to receive a copy of the
interim report or the final report may request a copy by writing to the Receiver at the address set out
below.
PricewaterhouseCoopers Inc.
Court Appointed Receiver of
50549 Newfoundland and Labrador Inc.
1601 Lower Water Street, Suite 400
Halifax, Nova Scotia B3J 3P6
Phone: (902) 491-7421
Fax: (902) 422-1166
David Boyd, CPA, CA, CIRP, LIT
DATED AT Halifax, Province of Nova Scotia, this 29th day March, 2016.
PricewaterhouseCoopers Inc.
Per: ___________________________________
David Boyd, CPA, CA, CIRP, LIT
Senior Vice President
List "A"
Unsecured Creditors
50549 Newfoundland and Labrador Inc.
No.
Name of creditor
Address
1 53653 Newfoundland and Labrador Inc.
Attn: Kenneth J. Young
KMK Legal Services PLC Inc.
40 Aberdeen Ave., Suite 202
St. John's NL A1A 5T3
2 Babb Security
6 Vanguard Court, PO Box 1774
St. John's NL A1C 5P9
3 Bell Aliant
183-1629
Unsecured claim
Balance of claim
Total claim
155,000.00
0.00
155,000.00
262.00
0.00
262.00
P.O. Box 12088
St. John's NL A1B 4C8
1.00
0.00
1.00
4 Bell Aliant
576-6622
P.O. Box 12088
St. John's NL A1B 4C8
176.00
0.00
176.00
5 Bell Aliant
576-6667
P.O. Box 12088
St. John's NL A1B 4C8
2,522.00
0.00
2,522.00
6 Bell Aliant
747-1644
P.O. Box 12088
St. John's NL A1B 4C8
1,603.00
0.00
1,603.00
7 Bell Mobility Cellular
85524292497
PO Box 5102
Burlington ON L7R 4R7
1,533.00
0.00
1,533.00
8 Benson Buffett
PO Box 1538
St. John's NL A1C 5N8
5,038.00
0.00
5,038.00
9 BK Investments
3956 Chadburn Crescent
Mississauga ON L5L 3X5
3,616.00
0.00
3,616.00
10 Blossoms
10 Forbes St.
St. John's NL A1E 3L5
2,008.00
0.00
2,008.00
11 Blue Cross of Atlantic Canada
66 Kenmount Road
St. John's NL A1B 3V7
1.00
0.00
1.00
12 Canada Revenue Agency
864174230RP0001
Regional Insolvency Intake Centre
PO Box 638
Halifax NS B3J 2T5
1.00
0.00
1.00
13 Canadian Linen
103 Glencoe Drive
Mount Pearl NL A1N 4S7
1.00
0.00
1.00
14 Capital Hotel
208 Kenmount Road
PO Box 8614
St. John's NL A1B 3P2
5,404.00
0.00
5,404.00
15 Chad Kennedy
69 London Drive
Carbonear NL A1Y 1A6
1,070.00
0.00
1,070.00
16 Chris Dunn
40 Aberdeen Ave., Apt. 201
St. John's NL A1A 5T3
2,779.00
0.00
2,779.00
17 Clifford Smith
5 Parsons Place
St. John's NL A1A 1Y2
37,000.00
0.00
37,000.00
18 Connie Kelloway
49 Gil Eannes Dr.
St. John's NL A1B 5C6
45,000.00
0.00
45,000.00
19 Counterforce
1038 Topsail Road
St. John's NL A1N 5G1
98.00
0.00
98.00
20 Craig Blanchard
Royal LePage Atlantic Homestead Ltd.
81 Kenmount Road
St. John's NL A1B 4J8
44,660.00
0.00
44,660.00
21 Custom Drycleaners Ltd.
50 Mundy Pond Road
St. John's NL A1E 1V1
745.00
0.00
745.00
22 Delta
120 New Gower Street
St. John's NL A1C 6K4
3,157.00
0.00
3,157.00
-
List "A"
Unsecured Creditors
50549 Newfoundland and Labrador Inc.
No.
Name of creditor
Address
Unsecured claim
Balance of claim
Total claim
23 Dicks and Company
385 Empire Ave.
St. John's NL A1E 1W6
1.00
0.00
1.00
24 DSL Communication Systems Inc.
9 Hamel St.
St. John's NL A1C 5A1
1.00
0.00
1.00
25 Eastern Audio Limited
5 Waterford Bridge Road
St. John's NL A1E 1C5
2,820.00
0.00
2,820.00
26 Esso
90 Wynford Drive P.O. Box 355
North York ON M3C 2S7
957.00
0.00
957.00
27 Fairview Inv.
360 Topsail Road
St. John's NL A1C 5M3
79,000.00
0.00
79,000.00
28 Fast Signs
9 Allston Street
Mount Pearl NL A1N 0A3
1,600.00
0.00
1,600.00
29 Fred Wight Limited
49 Larkhall St.
St. John's NL A1B 2C5
410.00
0.00
410.00
30 Hantang Li
c/o W. Les Thistle Law Office PLC Inc.
229 Park Avenue
Mount Pearl NL A1N 2C2
100,000.00
0.00
100,000.00
31 Image 4
1170 Topsail Road
Mount Pearl NL A1N 5E8
1,031.00
0.00
1,031.00
32 Imprint Speciality Promotions Ltd.
PO Box 5755
St. John's NL A1C 5X3
5,203.00
0.00
5,203.00
33 Imprint Speciality Promotions Ltd.
erotr
PO Box 5755
St. John's NL A1C 5X3
4,104.00
0.00
4,104.00
34 Imprint Speciality Promotions Ltd.
mtg doc
PO Box 5755
St. John's NL A1C 5X3
1,983.00
0.00
1,983.00
35 Infotech Canada
PO Box 8431
St. John's NL A1B 3N9
1.00
0.00
1.00
36 JJ Neville and Sons Ltd.
393 Hamilton Ave. Ext.
St. John's NL A1E 1K5
983.00
0.00
983.00
37 Joseph Greene
64 Bonaventure Ave.
St. John's NL A1C 3Z6
110,724.00
0.00
110,724.00
38 Karwood Sales Inc.
1429D Topsail Road
Paradise NL A1L 1H6
7,656.00
0.00
7,656.00
39 Kenmount Pizza Inc.
PO Box 23071
St. John's NL A1B 4J9
1.00
0.00
1.00
40 Kirkland, Balsom and Associates
21 Mews Pl.
St. John's NL A1B 4N2
452.00
0.00
452.00
41 Linda Dalley
63A Sgt. Donald Lucas Dr.
Paradise NL A1L 0W7
711.00
0.00
711.00
42 LiveAdmins, LLC
500 Michigan Ave., Suite 600
Chicago IL 60611 USA
3,000.00
0.00
3,000.00
43 MacLeod Sawing & Drilling Ltd.
PO Box 21164
St. John's NL A1A 5B2
1,017.00
0.00
1,017.00
44 Metrobus Transit
25 Messenger Drive
St. John's NL A1B 0H6
2,863.00
0.00
2,863.00
45 Mount Pearl Chamber of Commerce
367 Old Placentia Road
Mount Pearl NL A1N 0G7
367.00
0.00
367.00
46 NewCap
PO Box 8590
St. John's NL A1B 3P5
9,066.00
0.00
9,066.00
-
List "A"
Unsecured Creditors
50549 Newfoundland and Labrador Inc.
No.
Name of creditor
Address
Unsecured claim
Balance of claim
Total claim
47 Newfoundland Association of Realtors
28 Logy Bay Road
St. John's NL A1A 1J4
44,115.00
0.00
44,115.00
48 NL Disposal
19 Harding
St. John's NL A1A 5T8
1.00
0.00
1.00
49 Orkin Canada
18 Duffy Place
St. John's NL A1B 4M5
1.00
0.00
1.00
50 Perfect Pen & Stationery
4-355 Admiral Boulevard
Mississauga ON L5T 2N1
1.00
0.00
1.00
51 Photo Pros
46 Burnt Head Road
St. John's NL A1Y 1B1
1,270.00
0.00
1,270.00
52 Pinnacle Office Solutions
1200 Kenmount Road
Paradise NL A1L 1N3
1.00
0.00
1.00
53 Pitney Bowes of Canada
Attn: Mike Timko
C/O Bankruptcyhighway.com
PO Box 57100
Toronto ON M8Y 3Y2
1.00
0.00
1.00
54 Pitney Works
PO Box 280
Orangeville ON L9W 2Z7
1.00
0.00
1.00
55 Print Shop
1 Moffatt Rd.
Mount Pearl NL A1N 5B9
91.00
0.00
91.00
56 Purolator
16 Duffy Place
St. John's NL A1B 4M5
566.00
0.00
566.00
57 RE/MAX United Inc.
860-866 Topsail Road
Mount Pearl NL A1N 3J7
6,498.00
0.00
6,498.00
58 Rob Moore
40 Aberdeen Ave., #201
St. John's NL A1A 5T3
5,926.00
0.00
5,926.00
59 Robin Hillier
Royal LePage Atlantic Homestead Ltd.
81 Kenmount Road
St. John's NL A1B 4J8
6,639.00
0.00
6,639.00
60 Rogers TV Listings
58 Kenmount Road
St. John's NL A2B 1W2
1,277.00
0.00
1,277.00
61 Royal LePage Atlantic Homestead Ltd.
81 Kenmount Road
St. John's NL A1B 4J8
6,947.00
0.00
6,947.00
62 Sherrie Hollahan
3 Suez Street
St. John's NL A1C 4Z6
5,142.00
0.00
5,142.00
63 ShredGuard
PO Box 2189
Saint John NB E2L 4G7
174.00
0.00
174.00
64 St. John's Board of Trade
PO Box 5127
St. John's NL A1C 5V5
1.00
0.00
1.00
65 Staples Advantage
PO Box 2050
Halifax NS B3J 2Z1
784.00
0.00
784.00
66 Steve Porter
10 Hillside Place
Conception Bay South NL A1X 0X1
4,971.00
0.00
4,971.00
67 Telegram
PO Box 8660, Stn A
St. John's NL A1B 3T7
1.00
0.00
1.00
68 Telelink Call Centre
PO Box 8038
St. John's NL A1B 3M7
1,777.00
0.00
1,777.00
69 Tom Clift
38 Wedgeport Road
St. John's NL A1A 5A6
7,407.00
0.00
7,407.00
List "A"
Unsecured Creditors
50549 Newfoundland and Labrador Inc.
No.
Name of creditor
Unsecured claim
Address
70 Toni Tucker
47 Doyles Road
Goulds NL A1S 1N2
71 Town of CBS
Balance of claim
Total claim
153.00
0.00
153.00
PO Box 14040, Stn Manuels
Conception Bay South NL A1W 3J1
1,140.00
0.00
1,140.00
72 Umbrella Security Services
PO Box 10
Mount Pearl NL A1N 2C1
1,011.00
0.00
1,011.00
73 Vision Realty Inc.
175 Hamlyn Road
St. John's NL A1E 5Z6
9,365.00
0.00
9,365.00
74 Web Quarters
40 Quidi Vidi, Suite 102
St. John's NL A1A 1C1
1.00
0.00
1.00
75 Western Signs
81 Wight's Rd.
Deer Lake NL A8A 2J1
886.00
0.00
886.00
76 YourOnlineAgents.com
100 Woodmount Ave.
Toronto ON M4C 3Y3
565.00
0.00
565.00
752,339.00
0.00
752,339.00
Total: