I-Way Group
- Proceeding
- Receivership (court-appointed)Subsection 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and Section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended
- Court
- Ontario Superior Court of Justice · Commercial List
- File
- CL-25-00753549-0000
- Industry
- Real estate
I-Way Group remains in court-appointed receivership in Ontario, where Ernst & Young Inc. has acted as Receiver over Wings Freightway Inc., I-Way Transport Inc., I-Way Logistics Inc., 2806329 Ontario Inc., 10872911 Canada Inc., 14366085 Canada Inc. and 2863697 Ontario Inc. since December 18, 2025. The appointment was obtained by National Bank of Canada under subsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, and carries a stay of proceedings. The Receiver has taken or attempted to take possession of the Debtors' assets, retained counsel and an auctioneer, dealt with fleet asset recovery and tenant defaults, and is proposing a marketing and sale process for the Properties. It reported to the court on June 30, 2026, and an interim order followed on July 6, 2026.
The court granted an interim order in the receivership, again resting on subsection 243(1) of the BIA and section 101 of the Courts of Justice Act.
Source: Order Approving the Auction Agreement, Listing Agreements, and Related Relief
The Receiver's First Report accounted for possession efforts over the Debtors' assets, the retainer of counsel and an auctioneer, fleet asset recovery and tenant defaults, and proposed a marketing and sale process for the Properties.
Ontario's Commercial List appointed Ernst & Young Inc. Receiver over the seven Debtors on National Bank of Canada's application, granting a stay and a first-ranking Receiver's Charge for the Receiver and its counsel, plus a $500,000 Receiver's Borrowings Charge subordinate to it, under court file CL-25-00753549-0000.
Supplementary Application Record, dated December 9, 2025 — Application / notice of application
Supplementary Responding Record of the Respondents, dated December 9, 2025 — Response / objection pleading
Responding Record of the Respondents, dated November 28, 2025 — Response / objection pleading
Application Record of the Applicant - Part 2, dated November 14, 2025 — Application / notice of application
Application Record of the Applicant - Part 3, dated November 14, 2025 — Application / notice of application
Application Record of the Applicant - Part 4, dated November 14, 2025 — Application / notice of application
Application Record of the Applicant - Part 5, dated November 14, 2025 — Application / notice of application
Case update
I-Way Group: EY counts 283 fleet assets unaccounted for, and an auction of 41
National Bank of Canada, owed more than $42 million, won EY's appointment over the I-Way group's objections in December; EY's First Report says 283 of the 518 fleet assets on management's list are unaccounted for. On July 6 the court approved an auction of 41 of the assets EY located and listings for four properties.
Debtor
I-Way Group
Applicant
National Bank of Canada
Receiver
EY
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 4 orders, Dec 2025 – Jul 2026 | 318 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverEY | Dentons Canada LLP | 2 Jul 2026 | Factum · 2 Jul 2026 |
| ApplicantNational Bank of Canada | Chaitons LLP | 9 Dec 2025 | Application · 9 Dec 2025 |
| DebtorI-Way Group | Vk Law Group | 15 Dec 2025 | Factum · 15 Dec 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| Court-ordered charges | ||||
| 1 | Court-ordered charges | Receiver's Borrowings Charge — in priority to all security interests, trusts, liens, charges and encumbrances, statutory or otherwise, in favour of any Person, but subordinate in priority to the Receiver's Charge and the charges as set out in sections | $500K | Receivership Order, dated December 18, 2025 |
| 1 | Court-ordered charges | |||
| Pre-filing debt | ||||
| 4 | Secured | |||
| 4 | Secured | |||
3 more claims in 2 classes The stack holds Court-ordered charges and Secured claims.
Every creditor and every amount, drawn to scale.
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See all plansThis 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.
6 transactions · 4 proposed · 2 approved — Order approving the auction agreement and listing agreements/sales processes, with completion of any transaction under the Sale Process subject to further court approval.Order Approving the Auction Agreement, Listing Agreements, and Related… · 6 Jul 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| unnamed end purchaser(s) of fleet assets sold through the auction41 fleet assets · auction · agreement 28 May 2026 | Subscribers | Proposed | First Report of the Receiver - 30-June-2026 |
| prospective purchaser of the SE Calgary PropertySE Calgary Property · real property | not stated | Proposed | First Report of the Receiver - 30-June-2026 |
| prospective purchaser of the NE Calgary PropertyNE Calgary Property (13950 52 Street NE, Calgary, Alberta) · real property | not stated | Proposed | First Report of the Receiver - 30-June-2026 |
| prospective purchaser of the Winnipeg PropertyWinnipeg Property (70 Nicolas Avenue, Winnipeg, Manitoba) · real property | not stated | Proposed | First Report of the Receiver - 30-June-2026 |
| purchaser(s) under the approved Sales Processes/Listing Agreements, not yet identifiedthe property, assets, and undertakings of the Respondents subject to the Listing Agreements · real property | not stated | Approved6 Jul 2026 | Order Approving the Auction Agreement, Listing… |
| end purchasers at the auction, unnamedall of the Respondents' right, title, and interest in and to the property purchased by such Purchaser (the 'Purchased Assets') · auction · agreement 26 May 2026 | not stated | Approved6 Jul 2026 | Order Approving the Auction Agreement, Listing… |
National Bank of Canada: shortfall.EstimatedMotion Record · 30 Jun 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | National Bank of Canada | — | shortfall | Estimatedper the receiver | Motion Record · 30 Jun 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.
| Date | Document | File |
|---|---|---|
Service List as at July 8, 2026
| PDF · Subscribers | |
Endorsement
| PDF · Subscribers | |
Order Approving the Auction Agreement, Listing Agreements, and Related Relief
| PDF · Subscribers | |
Factum of the Receiver - returnable July 6, 2026
| PDF · Subscribers | |
First Report of the Receiver - 30-June-2026
| PDF · Subscribers | |
Motion Record - returnable July 6, 2026
| PDF · Subscribers | |
| Certificate of Appointment, dated January 28, 2026 | PDF · Subscribers | |
245 - 246 Notice
| PDF · Subscribers | |
Endorsement of Cavanagh, J., dated December 18, 2025
| PDF · Subscribers | |
Receivership Order, dated December 18, 2025
| PDF · Subscribers | |
Factum of the Applicant, dated December 15, 2025
| PDF · Subscribers | |
| Respondent's Book of Authorities, dated December 15, 2025 | PDF · Subscribers | |
Respondent's Factum, dated December 15, 2025
| PDF · Subscribers | |
Supplementary Application Record, dated December 9, 2025
| PDF · Subscribers | |
| Supplementary Responding Record of the Respondents, dated December 9, 2025 | PDF · Subscribers | |
| Responding Record of the Respondents, dated November 28, 2025 | PDF · Subscribers | |
Application Record of the Applicant - Part 1, dated
| PDF · Subscribers | |
Application Record of the Applicant - Part 2, dated November 14, 2025
| PDF · Subscribers | |
Application Record of the Applicant - Part 3, dated November 14, 2025
| PDF · Subscribers | |
Application Record of the Applicant - Part 4, dated November 14, 2025
| PDF · Subscribers | |
Application Record of the Applicant - Part 5, dated November 14, 2025
| 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., “I-Way Group” (Receivership (court-appointed)), Ontario Superior Court of Justice · Commercial List. Retrieved 4 November 2026, https://proceedings.ca/case/i-way-group