#Order
Interim order granted Friday, May 1, 2026, commencing the receivership of Ballo Carriers Inc. in the Ontario Superior Court of Justice under file CV-24-00003238-0000.
Source: Order of the Honourable Justice Stewart dated May 1, 2026
Ballo Carriers Inc.
FollowActive
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-24-00003238-0000
Filings held12
Last activity1 May 2026
On the record767 days
Secured debt$720K
OverviewSummary updated
Ballo Carriers Inc. is subject to a court-appointed receivership before the Ontario Superior Court of Justice (In Bankruptcy and Insolvency), brought under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The proceeding commenced on May 1, 2026, when the court granted an interim order, and is carried on Ontario court file number CV-24-00003238-0000. The matter remains active. The interim order of May 1 is the only step recorded to date in the proceeding.
Proceedings AIAsk this case — answers cite the filings
Case updates12 dated entries
#Filing
Book of Authorities of the Receiver dated April 22, 2026 — Application / notice of application
#Order
Endorsement of the Honourable Justice Trimble dated September 12, 2025 — Endorsement / reasons
#Order
The court appointed msi Spergel inc. as receiver and manager, on the application of The Toronto-Dominion Bank. Court file CV-24-00003238-0000.
Source: Court Order of the Honourable Justice M.T. Doi dated August 15, 2024
Parties
Debtor
Ballo Carriers Inc.
Receiver
msi Spergel inc.
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Stewart | Ontario Superior Court of Justice | 2 orders, May 2026 | 8 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Receivermsi Spergel inc. | Harrison Pensa LLP | 22 Apr 2026 | Application · 22 Apr 2026 |
| DebtorBallo Carriers Inc. | Mand Rai LLP | 19 Nov 2024 | Service list · 19 Nov 2024 |
| CreditorTFG Financial Corporation | Evangelista LLP | 19 Nov 2024 | Service list · 19 Nov 2024 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 926 casesReferenced only via Application Record index as Exhibit 'Y' - Requirement to Pay in the amount of $20,792.70 (pp.494-498, not included among provided pages); likely a deemed-trust/source-deduction collection claim. | $20.8K | Application Record of TD Bank - Volume 2 |
| 4 | Secured | The Toronto-Dominion Bank · in 111 casesCharge/Mortgage Instrument No. PR4173363 (registered principal $750,000.00) and Notice of Assignment of Rents PR4173364, registered Feb 22, 2023 over Unit 17-2131 Williams Pkwy, Brampton (PIN 19416-0017); GSA dated Feb 21, 2023 (1000228842 Ontario Inc.) — Term Facility for Borrower B. Forbearance Agreement s.2.02 recites this balance 'as at February 22, 2023'; other 2024 demand letters reference the same $720,000 guarantee figure, suggesting a possible date error in the Agreement. Registered charge principal ($750,000.00) is not itself the balance. — debtor: 1000228842 Ontario Inc. · as of 22 Feb 2023 | $720K | Application Record of TD Bank - Volume 2 |
| 4 | Secured | The Toronto-Dominion Bank / TD Equipment Finance Canada · in 2 casesMaster Equipment Lease No. T000006070 dated June 29, 2021 with Schedules 21011230, 21012290, 21018500, 21020460, 23007210; guaranteed by 1000228842 Ontario Inc. — Aggregate stated in document: #21011230 $58,851.67; #21012290 $102,568.46; #21018500 $82,671.89; #21020460 $32,534.55; #23007210 $143,309.21. — debtor: Ballo Carriers Inc. · as of 21 Feb 2024 | $420K | Application Record of TD Bank - Volume 2 |
| 4 | Secured | 2418338 Ontario Inc.Charge/Mortgage Instrument PR4290248 registered 2024/01/05 over Unit 17-2131 Williams Pkwy, Brampton (PIN 19416-0017); Standard Charge Terms 200033; 13% interest; Balance Due Date 2024/07/05 — Registered principal amount; guarantor named on charge: Boparai, Singh Mukhtar (personal guarantee). — debtor: 1000228842 Ontario Inc. · as of 5 Jan 2024 | $200K | Application Record of TD Bank - Volume 2 |
| 4 | Secured | His Majesty the King in Right of Ontario (Ministry of Finance, AM & Collections Branch (IFTA))PPSA Registration File No. 794534058, registered June 21, 2023, over all categories of collateral classification — Regulatory/tax claim (fuel tax/IFTA audit); described in negotiations as 'currently under review'; debtor disputes and is 'not prepared to make payment of it in full'; requirement for discharge of this registration was struck from the finalized Forbearance Agreement terms per redline. — debtor: Ballo Carriers Inc. · as of 21 Jun 2023 | $142K | Application Record of TD Bank - Volume 2 |
| 4 | Secured | The Toronto-Dominion Bank · in 111 casesIncluded as part of Borrower A Primary Indebtedness (Forbearance Agreement s.2.01(e)), secured by GSA — Loan 7921048-01 advanced under Canada Emergency Business Account (CEBA); no specific balance date stated in demand letter. — debtor: Ballo Carriers Inc. | $60K | Application Record of TD Bank - Volume 2 |
| 4 | Secured | The Toronto-Dominion Bank (Fogler, Rubinoff LLP fees) · in 111 casesSecured by Security per Forbearance Agreement s.2.03 (added to and forming part of Indebtedness) — Legal fees of Fogler, Rubinoff LLP. — debtor: Ballo Carriers Inc. / 1000228842 Ontario Inc. · as of 6 Mar 2024 | $16.5K | Application Record of TD Bank - Volume 2 |
| 4 | Secured | The Toronto-Dominion Bank (Forbearance Fee) · in 111 casesas of execution of Forbearance Agreement — Deemed to form part of Indebtedness, secured by Security per s.5.03 — Payable in installments: $5,000.00 on execution; $10,000.00 at end of Forbearance Period (May 31, 2024). — debtor: Ballo Carriers Inc. / 1000228842 Ontario Inc. | $15K | Application Record of TD Bank - Volume 2 |
| 4 | Secured | Peel Condominium Corporation No. 416Condominium Lien, Instrument PR4327321, registered under the Condominium Act — debtor: 1000228842 Ontario Inc. · as of 30 Apr 2024 | $4.02K | Application Record of TD Bank - Volume 2 |
| 4 | Secured | Bodkin · in 2 casesPPSA registration No. 766278774 (security agreement not disclosed in record) — Document does not state amount of indebtedness; per Feb 2024 forbearance negotiations, Borrowers were required to provide the security agreement and statement of amount owing to this secured creditor - amount remains unknown from this record. — debtor: Ballo Carriers Inc. | — | Application Record of TD Bank - Volume 2 |
| 4 | Secured | Recovery Inc.PPSA registration (File No. 786487491, amendment reg. 2022/09/07) - blanket general collateral: goods, chattel paper, investment property, documents of title, instruments, money, intangibles, proceeds, insurance — Listed as registering agent/secured party for further information; amendment described as 'AMEND GENERAL COLLATERAL'; blanket all-property registrant, no amount stated. — debtor: Ballo Carriers Inc. | — | Application Record of TD Bank - Volume 2 |
| 4 | Secured | Canadian Imperial Bank of Commerce · in 67 casesCharge Instrument PR3783077 (discharged) — DISCHARGED - Discharge of Charge registered 2023/07/14, 'completely deleted'; not a current secured claim, included only to flag discharge. — debtor: 1000228842 Ontario Inc. · as of 14 Jul 2023 | — | Application Record of TD Bank - Volume 2 |
| 5 | PMSI / lessors | Meridian OneCap Credit Corp. · in 75 casesPPSA registration File No. 785647053 (reg. 2022/08/09) over 2018 Kenworth T680 truck (VIN 1XKYD49X5JJ996023) plus proceeds/insurance — Serialized-equipment (PMSI-type) financier; no balance amount stated in PPSA search. — debtor: Ballo Carriers Inc. | — | Application Record of TD Bank - Volume 2 |
| 7 | Preferred (BIA s. 136) | Government of Canada (Labour Standards Officer, Canada Labour Code Part III) · in 8 casesLikely a wage-related statutory claim; treated as a preferred claim given its basis in labour standards enforcement. — debtor: Ballo Carriers Inc. · as of 19 Jul 2024 | $20.8K | Application Record of TD Bank - Volume 1 |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
RecoveriesAs stated in the filings
other stakeholders: no distribution. 2412338 Ontario Inc. short · Toronto Dominion Bank short.EstimatedMotion Record of the Receiver · 23 Feb 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | 2412338 Ontario Inc. | — | shortfall | Estimatedper the receiver | Motion Record of the Receiver · 23 Feb 2026 |
| Secured | Toronto Dominion Bank | — | shortfall | Estimatedper the receiver | Motion Record of the Receiver · 23 Feb 2026 |
| class not placed | other stakeholders | — | no distribution | Estimatedper the receiver | Motion Record of the Receiver · 23 Feb 2026 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
Fees and ratesAs stated in the filings
2 engagements · 2 firms — latest: Harrison Pensa LLP, 6 Jan – 12 Feb 2026Motion Record of the Receiver · 23 Feb 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Harrison Pensa LLPCounsel | 6 Jan – 12 Feb 2026 | — | — | $393.01stated average | Motion Record of the Receiver · 23 Feb 2026 |
| msi Spergel Inc.Receiver | 1 May – 31 Dec 2025 | — | $5,231.90incl. tax | not stated | Motion Record of the Receiver · 23 Feb 2026 |
Documents
12 filings
| Date | Document | File |
|---|---|---|
Endorsement of the Honourable Justice Stewart dated May 1, 2026
| ||
Order of the Honourable Justice Stewart dated May 1, 2026
| ||
Book of Authorities of the Receiver dated April 22, 2026
| ||
Factum of the Receiver dated April 22, 2026
| ||
| Supplemental Record of the Receiver dated April 22, 2026 | ||
Motion Record of the Receiver dated February 23, 2026
| ||
Endorsement of the Honourable Justice Trimble dated September 12, 2025
| ||
Service List dated November 19, 2024.
| ||
Court Order of the Honourable Justice M.T. Doi dated August 15, 2024
| ||
| Factum of TD Bank dated August 6, 2024 | ||
Application Record of TD Bank - Volume 1
| ||
Application Record of TD Bank - Volume 2
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Ballo Carriers Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/ballo-carriers-inc