Web Offset Publications Limited

Web Offset Publications Limited (“Web”) is in the business of printing publications, catalogues, directories, financial statements, flyers and a variety of other materials, and is located in Pickering, Ontario.  On January 19, 2017, Web filed a Notice of Intention to Make a Proposal to its creditors pursuant to subsection 50.4(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the “BIA”) and Dodick Landau Inc. was named Proposal Trustee. Pursuant to the provisions of subsection 69 (1) of the BIA a stay of proceedings has been initiated and all proceedings against Web are stayed as of the date of filing of the NOI.  On February 14, 2017, the Court ordered an extension to the stay of proceedings to March 10, 2017.  On February 24, 2017 the Court appointed Dodick Landau Inc. as Receiver of Web, and on the same day approved a sale by the Receiver of all the assets of Web to Renaissance Printing Inc., a company owned by Annex Publishing, the largest trade publisher in Canada.  On February 28, 2017, the Receiver closed its sale of all the assets of Web to Renaissance Printing  Inc.  As the filing of a proposal was not made by March 10, 2017, on March 13, 2017, following the expiration of the stay of proceedings, Web was deemed to have filed an assignment in bankruptcy.