Productivity Media Inc., Productivity Media Income Fund I LP and Productivity Media Lending Corp. I, Receivership

Productivity Media Inc. (“PMI”), Productivity Media Income Fund I LP and Productivity Media Lending Corp. I, Ontario-based companies in the business of financing independent film and television projects, were placed in receivership on November 19 on application by Two Shores Capital Corp., owed approximately US$2.5 million on a secured basis.

The companies have raised $223 million from investors as of July 2024. They consented to the appointment of a receiver, having already commenced an investigation in relation to serious allegations of fraud committed against them by William Santor, the CEO of PMI. They have engaged PwC to investigate the alleged fraud.

KSV is the receiver.

Counsel is Fasken for Two Shores, Osler for the receiver, Loopstra Nixon for certain investors and DLA Piper for PMI in respect of investigative matters.