The Pridamor Group
The Pridamor Group, comprised of:
- Pridamor Toronto Inc. (also operating as Media Plus, Label Tech, Highlander Labels, Canada Coatings)
- D.D.D. Label Tech (West) Inc.
- Intercoat Canada Ltd. (also operating as Interflex)
- Les Solutions Code-X Inc.
By Order dated February 23, 2011, A. Farber & Partners Inc. was appointed National Receiver (the "Receiver"), without security, of all assets, undertakings and properties of Pridamor Toronto Inc., D.D.D. Label Tech (West) Inc., Intercoat Canada Ltd. and Les Solutions Code-X Inc. (the “Debtors" or the "Companies") acquired for, or used in relation to, a business carried on by the Debtors, including all proceeds thereof.
On February 16, 2011, Media Plus West Inc. and Enviro-Cote, Inc. entered into a Voluntary Surrender Agreement with the group's primary secured lender.
The Debtors operated as a vertically integrated manufacturer and distributor of pressure sensitive labels.
On April 24, 2012, A. Farber & Partners Inc. was granted a Discharge Order in this matter.
Court Orders
- Order of Justice Mesbur appointing Farber as Receiver dated February 23, 2011
- Order of Justice Morawetz approving, inter alia, the Danbury Transaction, dated April 6, 2011
- Order of Justice Mesbur approving, inter alia, distribution of funds dated June 9, 2011
- Order of Justice Morawetz discharging Receiver, dated April 24, 2012
Sales Process
The Receiver of the Companies offered for sale all of the Companies’ current and future assets, undertakings and property of every nature and kind whatsoever (the "Assets"). The Receiver also entertained offers for the assets, undertakings and property of Media Plus West Inc. and Enviro-Cote, Inc. on behalf of the primary secured lender.
THE BID DEADLINE FOR OFFERS WAS 4:00 PM ON MARCH 17, 2011.
Interested parties were invited to preliminary due diligence upon signing and submitting a confidentiality agreement. The Assets include:
- Accounts receivable
- Inventory
- Websites
- Printing equipment
- Office furniture, equipment and computers
By Order of the Honourable Mr. Justice Morawetz dated April 6, 2011, the Receiver was authorized to enter into an auction services agreement wtih Danbury Industrial. A copy of the Order can be found by clicking on the link above under "Court Orders".
The Receiver has also entered into an asset purchase agreement to sell the assets of D.D.D. Label Tech (West) Inc. to Sunwest Print Corporation.
By Order of the Honourable Madame Justice Mesbur dated June 9, 2011, the Receiver was authorized to distribute funds to the Companies' primary secured lender, Comerica Bank. This order also authorized the Receiver to make such further distributions as realization funds permit.
For additional information, please contact Peter Crawley by email at pcrawley@farberfinancial.com.
The purpose of this website is to provide documents to any interested persons regarding the Receivership of the Pridamor Group. The documents listed above are in pdf format and can be viewed and/or downloaded