M. Soltan Professional Corporation
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, and sections 13(2) of the Judicature Act, 49 of the Law of Property Act and 65(7) of the Personal Property Security Act
- File
- 2503-21279
M. Soltan Professional Corporation has been in receivership since November 18, 2025, when the Court of King's Bench of Alberta pronounced a receivership order. Bank of Montreal, identified by the Receiver as the primary secured creditor on the strength of PPR and land title searches, had demanded payment on September 18, 2025 with a concurrent BIA s.244 notice of intention to enforce security, and the default is continuing. As of October 16, 2025, BMO reported $1,179,087.42 owing on loan #0014-6976-751 and $258,825.18 on loan #0014-1936-320, with total indebtedness of $1,437,912.60. Mohamed Soltan, the principal, director and shareholder, guaranteed the company's indebtedness up to $1,850,000.00 plus interest under a guarantee dated June 8, 2025.
The court appointed Ernst & Young Inc as receiver [and manager], on the application of Bank of Montreal. Court file 2503-21279.
Source: Receivership Order - Filed
Receivership order pronounced, placing M. Soltan Professional Corporation and its property, including Units 1 and 2 of Condominium Plan 9023697, under a court-appointed Receiver.
Source: Receivership Order - Clean
Debtor
M. Soltan Professional Corporation
Receiver
EY
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | National Bank of Canada · in 87 casesReceiver-asserted priority over 'NBC Financed Equipment' (approx. 275 truck trailers and refrigerator trailer units) — Stated as an approximate indebtedness in the Sixth Report; interim distribution of $3,100,000 made April 20, 2026, with a further $2,175,000 proposed distribution. — debtor: Light Speed Logistics Inc. · as of 8 Dec 2025 | $12.5M | Brief |
| Secured | 8181926 Canada Inc.Claim under arts. 1592-1593, Civil Code of Quebec (CCQ), for storage fees — NBC trailers sold to 8181926 Canada Inc.; per Feb 6, 2026 Consent Order, claim preserved against sale proceeds. — debtor: Light Speed Logistics Inc. | $50.4K | Brief |
| Secured | 2316514 Ontario Inc. o/a Aberfoyle Truck CentrePossessory lien under Ontario Repair and Storage Liens Act (ORSLA), repair costs on 4 NBC trailers, registered at OPPR — Relief sought (intro) states $50,103.81; Accepted Lien Claims/Proof of Claim state $50,129.93 (used here as the operative figure). — debtor: Light Speed Logistics Inc. | $50.1K | Brief |
| Secured | Adept Landscape and Construction Ltd.Possessory lien under Alberta Warehousemen's Lien Act (AWLA) or common law possessory lien, for storage fees — Relief sought (intro) states $45,192.50; Accepted Lien Claims determination states $45,182.50 (used here as the operative figure). — debtor: Light Speed Logistics Inc. | $45.2K | Brief |
| Secured | Tire King Ltd.Non-possessory lien under Ontario Repair and Storage Liens Act (ORSLA), registered at OPPR against VIN 1UYVS3537N2547445 — Receiver accepted $28,625 for unpaid repairs; claims for accrued interest ($7,547.63) and storage ($4,500) found invalid. — debtor: Light Speed Logistics Inc. · as of 20 Mar 2026 | $28.6K | Brief |
| Secured | Roadstar Truck & Trailer Repair Inc.Possessory lien under Ontario Repair and Storage Liens Act (ORSLA), repair costs on 3 NBC trailers, registered at OPPR — debtor: Light Speed Logistics Inc. | $15.8K | Brief |
National Bank of Canada: $3.1M.FinalBrief · 28 Oct 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | National Bank of Canada | — | $3.1Minterim | Finalper the receiver | Brief · 28 Oct 2025 |
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.
As at 25 Nov 2025 · per Receiver estimate based on incomplete records; liabilities listing described as incomplete and unaudited · entity - M. Soltan Professional Corporation — Assets: as at November 25, 2025, the Receiver did not have access to adequate books and records of Soltan to determine the net book value of the Property (Real Property, Current Assets, Equipment, Total Assets all listed as TBD). Liabilities: 'The listing of creditors and estimated liabilities is incomplete as the Receiver was unable to obtain adequate corporate books and records of Soltan containing a complete listing of creditors and amounts owed as at the preparation of this notice dated November 25, 2025.'
| Date | Document | File |
|---|---|---|
| Application | ||
First Report to Court
| ||
| Certificate of Filing | ||
Notice and Statement of Receiver
| ||
Receivership Order - Filed
| ||
Receivership Order - Clean
| ||
| Ltr - Service Letter to service list | ||
| Service List | ||
Brief
| ||
| Consent-to-Act | ||
Notice-Of-Application
| ||
Sworn Affidavit of J Hermman (BMO)
| ||
| Statement-of-Claim | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “M. Soltan Professional Corporation” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/m-soltan-professional-corporation