#Order
The court appointed msi Spergel inc. as receiver and manager, on the application of Royal Bank of Canada. Court file CV-24-00002865-0000.
Source: Court Order of the Honourable Justice Yamashita dated August 9, 2024
Cheetah Carriers Inc.
FollowActive
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the "BIA") and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended (the "CJA")
- File
- CV-24-00002865-0000
OverviewSummary updated
Cheetah Carriers Inc. faces enforcement by Royal Bank of Canada under a General Security Agreement dated December 12, 2022, a Credit Agreement dated August 10, 2023, and a Master Lease Agreement dated February 2, 2023. RBC issued a section 244 Notice of Intention on February 28, 2024 citing $1,087,630.91 owing, then a PPSA section 63(4) Notice of Sale on March 22, 2024 citing $1,544,495.95, and a further Notice of Sale on May 17, 2024 naming other parties who may hold PPSA interests, including VFS Canada Inc., Honda Canada Finance Inc., several related corporate entities, and His Majesty in Right of Ontario. An affidavit filed in support of a receiver application, dated July 23, 2024, set RBC's claim at $1,608,557.86 CAD and $5,287.67 USD. Director Udit Gaur has given personal guarantees limited to $900,000 and $1,100,000, postponed to RBC's claim.
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Case updates3 dated entries
#Filing
Application Record of Royal Bank of Canada dated July 29, 2024 was filed. Court file CV-24-00002865-0000.
Source: Application Record of Royal Bank of Canada dated July 29, 2024
Parties
Debtor
Cheetah 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 Yamashita | Ontario Superior Court of Justice | 1 order, Aug 2024 | 3 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantRoyal Bank of Canada | Fogler, Rubinoff LLP | 9 Aug 2024 | Order · 9 Aug 2024 |
| CreditorRoyal Bank of Canada | Fogler, Rubinoff LLP | 6 Aug 2024 | Factum · 6 Aug 2024 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Royal Bank of Canada · in 556 casesGeneral Security Agreement dated December 12, 2022 (all present and after-acquired personal property, registered under the Ontario PPSA); Credit Agreement dated August 10, 2023 establishing a revolving demand/operating facility (limit $1,000,000) and Visa facility (limit $100,000); Master Lease Agreement dated February 2, 2023 with four Leasing Schedules (Nos. 201000072255, 201000072980, 201000073082, 201000076217) — Exact dated balance per receiver-application affidavit table: Operating Loan facility 07512-70295564-001 total $1,012,265.44 (principal $1,006,347.29 + accrued interest $5,918.15) · as of 23 Jul 2024 | $1.61M | Application Record of Royal Bank of Canada dated July 29, 2024 |
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.
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Documents3 filings
| Date | Document | File |
|---|---|---|
Court Order of the Honourable Justice Yamashita dated August 9, 2024
| PDF · Subscribers | |
Factum of Royal Bank of Canada dated August 6, 2024
| PDF · Subscribers | |
Application Record of Royal Bank of Canada dated July 29, 2024
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Cheetah Carriers Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/cheetah-carriers-inc