(Montreal) Documents released by the insolvency trustee show that the Just For Laughs Festival and affiliated companies owe millions of dollars in unpaid debts beyond what was included in a court filing last week.
Just for Laughs Group Inc., the festival’s parent company in Montreal, announced earlier this month that it had filed a notice of intent to make a proposal under Canada’s Bankruptcy and Insolvency Act.
Documents released this week by insolvency trustee PwC, formerly known as PricewaterhouseCoopers, show a further $5 million in unpaid debts by the festival and other affiliated companies.
This money is in addition to the 22.5 million owed by one of the group’s companies, disclosed in documents filed at the Montreal courthouse last week.
Among the newly disclosed $5 million in debts is $3.4 million owed by the comedy festival, whose creditors include hotels, venues and production companies.
In addition, Just for Laughs and another affiliated festival, ZooFest, owe more than $78,000 to a Montreal convenience store.
Creditors named in recently made public documents
- Around forty television channels, radio stations and newspapers across Canada, who are owed more than $100,000;
- Comedian Mike Ward, who is owed $301, and singer Ginette Reno, listed for more than $2,000;
- Big Yellow Taxi Productions, which produced the Australian Just for Laughs shows filmed in Montreal and Australia, is owed more than $200,000;
- The L’Unique convenience store in Montreal, identified for a total amount of $78,355;
- Comedy Gives Back, a nonprofit organization that helps comedians in need, which is owed $8,886;
- Montreal advertising company Cartier Communication Marketing, the largest creditor named in the new set of documents, is owed $720,347.
- Other creditors include Australian comedian Jim Jefferies and Montreal’s ambulance service, Urgences-santé.