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Kew Media Group Inc. & Kew Media International (Canada) Inc. - Court Reports
The following reports have been filed in the proceedings:
 Final Report of the Receiver |
October 19, 2023 |
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The purpose of the Final Report of the Receiver is to provide information in respect of the following: (a) Activities undertaken by the Receiver since February 1, 2023; (b) The Receiver's final statement of receipts and disbursements; (c) Details of the manner of distribution of the proceeds realized from the property of which the receiver had taken possession or control; and (d) Details of the disposition of any property of which the receiver had taken possession or control and that is not accounted for in the final statement of receipts and disbursements. | |
| Sixth Interim Report of the Receiver |
March 27, 2023 |
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The purpose of the Sixth Interim Report is to provide information in respect of the following: (a) Activities undertaken by the Receiver since August 1, 2022; (b) The Receiver's interim statement of receipts and disbursements for the period from August 1, 2022, to January 31, 2023: (c) Details of the Property of which the Receiver took possession or control that has not yet been sold or realized; (d) Expected recoveries for unsecured creditors; and (e) Information about the anticipated completion of the Receivership. | |
| Fifth Report of the Receiver |
May 5, 2023 |
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The purpose of this, the Receiver's Fifth Report (the "Fifth Report"), is to provide information to the Court on the following: (a) The receipts and disbursements of the Receiver for the period from the commencement of the Receivership to March 31, 2023; (b) The discontinuance of the action commenced by KMG, acting by its Receiver, against Grant Thornton Canada LLP under Court File No. CV-21-00656707-0000 (the "GT Action"); (c) The decision to not pursue potential claims against former officers and directors of KMG (the "D&O Claims"); (d) The status of the securities class action by Alex Kan and Stuart Rath (the "Class Action Plaintiffs") against certain of its former directors and officers (collectively, the "b>"Individual Defendants") and KMG, brought in the Ontario Superior Court of Justice, Toronto, as Court File No. CV-20-00644200-00CP) (the "Class Action"); (e) The Receiver's motion of for the granting of an Order (the "Fee Approval and Discharge Order"), inter alia: (i) Approving the actions, conduct and activities of the Receiver as described in the Receiver's Fourth Report dated September 29, 2021 (the "Fourth Report"), a copy of which is attached hereto as Appendix A, and in the Fifth Report; (ii) Approving the fees and disbursements of the Receiver for the period from November 1, 2020, to the date of the Receiver's discharge (iii) Approving the fees and disbursements of Torys LLP, in its capacity as the Receiver's independent legal counsel ("Torys"), for the period from November 1, 2020, to the date of the Receiver's discharge; (iv) Approving the fees and disbursements of Lax, O'Sullivan, Lisus, Gottlieb LLP, in its capacity as the Receiver's legal counsel ("LOLG"), for the period from December 31, 2020, to the date of the Receiver's discharge; and (v) Providing for the termination of the Receivership and the discharge of the Receiver upon service by the Receiver on the service list for the Receivership of a certificate confirming that all remaining administrative matters (discussed later in this Fifth Report) have been completed by the Receiver (the "Receivership Termination Certificate"); and (vi) Authorizing the delivery by the Receiver to Goodmans LLP, counsel to the Debtors, of certain books, records and electronic storage media of the Debtors in the possession or control of the Receiver and the destruction by the Receiver of the remaining books and records in its possession or control. | |
| Fourth Report of the Receiver |
September 29, 2021 |
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The purpose of the Fourth Report of the Receiver is to provide information to the Court regarding the motion by Alex Kan and Stuart Rath, plaintiffs in a securities class action brought against KMG and certain of its former directors and officers brought in the Ontario Superior Court of Justice, Toronto, as Court File No. CV-20-00644200-00CP) (the "Class Action"), for an Order: (i) Permanently lifting the stay of proceedings imposed by the Receivership Order for the limited purpose of allowing the Class Action to proceed against KMG; and (ii) Directing the Receiver to facilitate the retainer of counsel to act for KMG in defence of the Class Action within 30 days. | |
| Third Report of the Receiver |
November 23, 2020 |
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The Receiver's Third Report informs the Court on the following: (a) The receipts and disbursements of the Receiver for the period from February 28, 2020 to October 31, 2020; (b) The supplemental opinion of the Receiver's independent legal counsel on the validity and enforceability of the security held by the lending syndicate; (c) The Receiver's motion for the granting of an Order providing for the distribution of the net proceeds of the sale of the TCB Shares to the Agent on account of the lending syndicate's secured claim; and (d) Approval of the Receiver's actions, conduct, and activities, and approval of the fees and disbursements of the Receiver and its legal counsel. | |
| August 25, 2020 | |
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Confidential Second Report of the Receiver
SUBJECT TO SEALING ORDER | |
| First Report of the Receiver |
April 6, 2020 |
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The Receiver's First Report informs the Court on the following: (a) The activities of the Receiver since the Date of Receivership; (b) The receipts and disbursements of the Receiver for the period from February 28 to March 31, 2020; (c) The opinion of independent counsel to the Receiver on the validity and enforceability of the security held by Truist Bank as agent for and on behalf of a syndicate of lenders in respect of the Property; (d) The Receiver's motion for the granting of an Approval and Vesting Order inter alia: (i) Approving the sale of the of the shares of TCB Media Rights Ltd. pursuant to the Share Purchase Agreement between the Receiver and Beyond Entertainment Limited dated March 31, 2020; (ii) Providing for the vesting of the right, title, benefit and interest of KMG in and to the shares in and to the purchaser, free and clear of all Liens other than the certain encumbrances; and (iii) Declaring that, for greater certainty, the Receiver is not bound by any prior contractual agreement by KMG not to enter into or complete the sale of the TCB Shares or to do so only with the consent of a third party; and (e) The Receiver's motion for the granting of the repayment and distribution order providing for, inter alia: (i) The repayment of certain borrowings of the Receiver; (ii) The distribution of proceeds of realization to the Agent on account of the secured claim of the Syndicate; and (iii) Amending the style of cause for the Receivership. | |
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