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. The Trustee of FactorCorp Inc. and FactorCorp Financial Inc., applied to the Canadian Court for its discharge on June 6, 2017, which discharge was granted by the Court.

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.

Trustee's Update - April 8, 2016

On December 8, 2015, the Inspectors approved a distribution of approximately $0.02 to be made to FactorCorp debenture holders with admitted claims on December 8, 2015. The cheques were mailed March 31, 2016. This is the final distribution and the Trustee is proceeding to its discharge and the closure of this estate.

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 

Trustees Discharge

FactorCorp - Trustee Discharge [PDF 300 KB] The Trustee of FactorCorp Inc. and FactorCorp Financial Inc., applied to the Canadian Court for its discharge on June 6, 2017, which discharge was granted by the Court.

Contact Information

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