June 29, 2015 By PrintAction Staff
J. F. Moore Lithographers Inc. of Scarborough, Ontario, filed a Notice of Intention to Make a Proposal within the Bankruptcy and Insolvency Act. The original filing took place back in mid-April, with the case’s trustee presenting its first report in May, followed two court-approved extensions.
A spokesperson from the trustee company indicated J.F. Moore is still in operation and is working through the Bankruptcy and Insolvency Act process. The most recent extension for J. F. Moore to file a Notice of Intention (NOI) came on June 23 with an August 10 deadline.
The first report submitted by J.F. Moore’s trustee on May 13 includes a creditors list owed approximately $3.31 million. This accounts for a small group of secured creditors owed around $3.12 million.
The major secured creditors include J.F. Moore owner Dean Baxendale and the Business Development Bank of Canada, predominantly, as well as Frank Pantaleo, who founded J.F. Moore (along with Steve Moore and Joe Dattolico) and took on a VP role when it was sold in 2007. Baxendale led the purchase of J.F Moore Lithographers in late 2007 when the company had more than 50 employees.
Paper distribution companies are owned the largest portion of funds among the remaining unsecured creditors. Collectively three paper distributors are owed just over $80,000 and one ink company is owed around $18,000.
The newest August 10 court extension came following an earlier May 13 extension that had a June 5 submission deadline to receive third-party bids for the operation or its assets, with a June 19 completion date. The June 23 extension gives J.F. Moore until August 10 to file a new proposal.
J.F. Moore, with offset, litho and inkjet printing assets entered into its 30th year of business at the beginning of 2015. The commercial printer runs two 40-inch Heidelberg presses (6-colour CD 102 and 10-colour perfector) and Xerox iGen3 and Nuvera 288 presses.
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