Fast Track Alliance (2399295 Ontario Inc.)
Follow- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
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.
Unofficial Transcription of the Endorsement of Honourable Justice McEwen — Endorsement / reasons
Debtor
Fast Track Alliance (2399295 Ontario Inc.)
Receiver
msi Spergel inc.
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Royal Bank of Canada (RBC) · in 556 casesGeneral security agreement dated June 15, 2017, granted in connection with a letter credit agreement dated June 9, 2017; general blanket PPSA registration (728608968) registered June 9, 2017 — Amount includes legal expenses billed to Feb 9, 2018, plus further amounts for continued accrual of interest and recovery expenses; Receiver's counsel opined security is validly perfected and enforceable — debtor: 2399295 Ontario Inc. o/a Fast Track Alliance · as of 9 Feb 2018 | $1.59M | First Report to Court dated February 13, 2018 |
| 4 | Secured | 2100331 Ontario Inc. o/a TTC & Mobile Truck Trailer Repair (TTC)Possessory repairer's and storage lien claimed under the Repair and Storage Liens Act (RSLA) over three vehicles — Disputed claim: Receiver disputes quantum, contending maximum entitlement is $25,622.97 (using $60/day reasonable storage rate rather than TTC's claimed $150/day); TTC Invoices largely unsigned for storage portion — debtor: 2399295 Ontario Inc. o/a Fast Track Alliance · as of 12 Feb 2018 | $37.8K | First Report to Court dated February 13, 2018 |
| 5 | PMSI / lessors | PPSA equipment financiers (PMSI class) · in 183 casesDozens of motor vehicle registrations under the PPSA by lessors (e.g. Daimler/CLE, Somerville National Leasing & Rentals, Mercado, Bodkin, TPine, Element, Travelers, Riordan) against specific vehicles/trailers — Several lessor security interests (e.g. re-registrations of previously discharged filings for three specific vehicles) found subordinate/unperfected against RBC's prior general blanket registration under PPSA s.30(6); two lessor interests (2016 Freightliner VIN ...GY9616 and 2018 Freightliner VIN ...D9934) found validly perfected and prior in priority as against those specific vehicles | — | First Report to Court dated February 13, 2018 |
“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.
Closed · the record states no distribution outcome.
2 engagements · 2 firms — latest: Aird & Berlis LLP, —Motion Record Returnable · 23 Feb 2018
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Aird & Berlis LLPCounsel to the receiver | — | — | — | $407.94stated average | Motion Record Returnable · 23 Feb 2018 |
| MSI Spergel Inc.Receiver | — | 114.34 | — | $276.78stated average | Motion Record Returnable · 23 Feb 2018 |
| Date | Document | File |
|---|---|---|
Approval and Vesting Order of Honourable Justice McEwen
| ||
Discharge Order of Honourable Justice McEwen
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Endorsement of Honourable Justice McEwen
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Motion Record Returnable
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Unofficial Transcription of the Endorsement of Honourable Justice McEwen
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| Supplemental Report of the Receiver dated February 22, 2018 | ||
First Report to Court dated February 13, 2018
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| Application Record Returnable | ||
Endorsement of Honourable Justice Hainey
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Receivership Order of Honourable Justice Hainey
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Fast Track Alliance (2399295 Ontario Inc.)” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/fast-track-alliance-2399295-ontario-inc