Fast Track Alliance (2399295 Ontario Inc.)

Fast Track Alliance, the operating name of 2399295 Ontario Inc., was placed in court-appointed receivership in the Ontario Superior Court of Justice on December 1, 2017 under s. 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. The proceeding is closed. Royal Bank of Canada claimed $1,592,172.41 as of February 9, 2018, secured by a general security agreement dated June 15, 2017 and a general blanket PPSA registration made June 9, 2017, which the Receiver's counsel opined was validly perfected and enforceable. A repairer's and storage lien claim of $37,826.97 by 2100331 Ontario Inc., operating as TTC & Mobile Truck Trailer Repair, was disputed by the Receiver, which put the maximum entitlement at $25,622.97 on a $60-per-day storage rate rather than the $150 claimed. Most lessor vehicle registrations ranked behind RBC's earlier blanket filing under PPSA s. 30(6); two Freightliner interests were found perfected and prior.