Design Pics Inc., based in Edmonton, Alberta, Canada has assumed the interim management of Masterfile during the bankruptcy process. Masterfile first filed to restructure its business in
April 2017 and was unable to make any royalty payments to photographers after
January 2018. According to information supplied to creditors by Harris & Partners, the insolvency trustee, as of March 3, 2020 Masterfile had total assets of $270,000 and total liabilities of
$4,092,654.41. They owe royalty payments for the images they licensed to 530 stock agencies and independent photo creators.