#Report
Paramount Truck Lines Ltd
FollowClosed
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
Filings held30
Last activity15 Aug 2013
On the record5,591 days
Case updates30 dated entries
#Filing
27 earlier updates, back to 1 June 2011 — subscribers.
Parties
Debtor
Paramount Truck Lines Ltd
Receiver
EY
RecoveriesAs stated in the filings
Closed · the record states no distribution outcome.
Documents
30 filings
| Date | Document | File |
|---|---|---|
| This Court orders that and authorizes the Receiver to distribute the proceeds in the Receivership Estate as follows: (a) the fees and disbursements of the Receiver and its legal counsel to complete the administration of the Receivership, (b) the sum of $13,957.19 to Service Canada, (C) the sum of $25,000.00 to Sunrise Equipment Inc., (d) balance to the Applicant, GE Canada Finance Holding Company, (e) surplus, if any, to Ernst & Young, Inc., in its capacity as Trustee in Bankruptcy of Paramount. This Court orders that and declares that the activities and actions of the Receiver as described in the reports filed herein shall be and are hereby approved. This Court orders that and declares that the accounts of the Receiver and the estimated fees of the Receiver to complete the engagement, as set out in the Eighth Report is hereby approved, and the Receiver is authorized to pay such amounts. This Court orders and declares the accounts of counsel for the Receiver, and estimated fees of counsel for the Receiver to complete the engagement, as set out in the Eighth Report is hereby approved, and payment of such amounts shall be made. This Court orders and declares that the Receiver is hereby forever released and discharged from any and all liability that the Receiver now has or may hereafter have by reason of, or in any way arising out of, the acts or omissions of the Receiver while acting in its capacity as Receiver of Paramount herein, save and except for any gross negligence or wilful misconduct on the part of the Receiver. This Court orders and declares that the Receiver shall, subsequent to its discharge, perform such duties as may be incidental to the administration of the Receivership Estate. This Court orders that this Order shall be conditional upon and shall only take effect upon issuance of a Certificate of Decision dismissing, without costs, the appeal of Sunrise Equipment Inc. in File No. AI 12-30-07863 | Trustee site | |
| Eighth Report of the Receiver | Trustee site | |
| This Court orders that the claim of Sunrise to priority over GE respecting the proceeds of sale of the lands commonly known as 1196, 1200, 1214 and 1216 Fife Street, Winnipeg, Manitoba be dismissed as if heard on the merits and this Hounourable Court's Order of August 15, 2012 directing a trial of the issues between GE and Sunrise be set aside. This Court orders that the Statement of Claim issued by Sunrise against the Receiver in Suit No. CI-11-01-74800 be struck out, with prejudice. This Court orders that leave is given to the Receiver to bring on its motion approving the proposed distribution of the remaining proceeds of the Estate of Paramount Truck Lines Ltd., upon the expiration of the appeal period pertaining to this decision | Trustee site | |
| This Court orders and authorizes the Receiver to make an interim distribution of the proceeds in the Receivership Estate in the sum of $175,000.00 to the Applicant, GE Canada Finance Holding Company. This Court orders that a trial of the following issues (the "Trial") be heard: a. Whether Sunrise Equipment Ltd. ("Sunrise") has a valid equitable mortgage against the Respondent. b. Whether any funds were advanced by Sunrise under the equitable mortgage and what amount (if any) is owing under the said equitable mortgage to Sunrise by the Respondent. c. Whether Sunrise or the Applicant has priority over the proceeds of sale of the Respondent's real property. This Court orders that the Applicant has a valid equitable mortgage and security interest against the proceeds of sale of the Respondent's real property, and the amount owing to the Applicant is not controverted, and shall not form part of the Trial. This Court orders that either the Applicant or Sunrise may obtain a trial date from the trial coordinator, and the Honourable Mr. Justice Dewar is not seized of the Trial. This Court orders that the Receiver is entitled to attend but is not obliged to participate in the Trial. This Court order; (a) Sunrise shall provide the Applicant with an affidavit of documents by Friday, September 14, 2012, (b) the Applicant shall be entitled to examine for discovery John Loewen as a representative of Sunrise, said examination to take place by November 9, 2012; (c) Sunrise shall file and serve any additional evidence on the Applicant by October 16, 2012; (d) the Applicant shall file and serve any evidence on Sunrise by November 2, 2012; (e) a pre~triaI conference hearing is hereby dispensed with. This Court orders that upon the resolution of the Trial, Sunrise shall discontinue its claim against the Receiver in Suit No. Cl 11-01-74800. This Court order that the Receiver's motion for discharge and other ancillary relief shall be adjourned sine die. This Court order that the costs of this appearance, and the appearance of June 6, 2012 may be spoken to, upon the request of the Receiver | Trustee site | |
| This Court orders that the time in which Sunrise Equipment Ltd. is to file the affidavit of John Loewen, sworn August 11, 2012 shall be extended from June 30, 2012 (as set out in paragraph 3 of the Order of Justice Dewar pronounced June 6. 2012) to August 15, 2012 | Trustee site | |
| Seventh report of the Receiver | Trustee site | |
| Sixth report of the Receiver | Trustee site | |
| This Court orders and declares that the Receiver's Sealed Report shall be treated as confidential and shall not form part of the public record nor be disclosed to any parties of this proceeding except subject to an undertaking and non-disclosure agreement in a form acceptable to the Receiver or otherwise, until: (i) further Order of this Court; (ii) the date on which the Receiver's Certificate (substantially in the form attached hereto as Schedule "A") has been med with the Court, whichever shall first occur, whereupon the Receivers Sealed Report shall form part of the public record and shall no longer be sealed. This Court orders and declares that the agreement of purchase and sale between the Purchaser (3386148 Manitoba Ltd. or its nominee), and accepted by the Receiver on November 30, 2011 (the "Transaction"), to purchase certain real property of Paramount Truck Lines Ltd. commonly known as 1196, 1200, 1214 and 1216 Fife Street, Winnipeg, Manitoba (the "Paramount Property"), and legally described as follows: Title No. 2382691/1 SP Lot 5 Plan 27659 WLTO In OTM Lots 44 and 45 Parish of Saint John In OTM Lots 1 to 3 Parish of Kildonan and Closed Government Road Allowance Title No. 2382695/1 Lot 2 Block 4 Plan 6464 WLTO In OTM Lots 44 and 45 Parish of St John is hereby approved, and that the Transaction is commercially reasonable and in the best interest of the stakeholders. The Receiver be and it is hereby authorized and directed to take such additional steps and execute such additional documents as may be necessary or desirable for the completion of the Transaction and for the conveyance of the Paramount Property to the Purchaser | Trustee site | |
| This Court orders that the Receiver may make an interim payment to the Applicant in the sum of $331,275.00 CAD and $610,000.00 USD; This Court orders that the Receiver may make an interim payment to GE Canada Equipment Financing G.P., GE Canada Leasing Services Company, Genera! Electric Canada Equipment Finance G.P., GE Technology Finance, GE VFS Canada Limited Partnership (collectively "GE Equipment'") in the sum of $1,279,975.00, This Court orders that subject to, and upon Paramount becoming bankrupt, the Receiver be and is hereby authorized to pay out of the funds being held in trust pursuant to the Order of the Honourable Mr. Justice Sewer pronounced August 2, 2011 the following amounts: (i) the sum of $314,205,50 to Canada Revenue Agency for outstanding source deductions which payment shalt be in full satisfaction of all source deductions due and owing Io Canada Revenue Agency by Paramount; (in) the sum of $6,416.28 to Daimler Chrysler Financial/DCFS Canada Corp., (iii) the sum of $3,104.78 to) Beaver Truck Centre, (iv) the sum of $5,986.78 to CIT Financial Ltd., and (v) the sum of $6,748.43 to Stoughton Trailers, Inc. This Court orders that the Receiver be and is hereby authorized to pay the sum of $10,000,00 to Atkins, MacAulay & Thorvaldson LLP in trust to be paid to a trustee in bankruptcy if approved within 90 days from the date of this Order, fairing which, the funds shelf be returned to the Receiver | Trustee site | |
| Fifth report of the Receiver | Trustee site | |
| Notice to creditors | Trustee site | |
| The Court hereby orders that Paramount, of The City of Winnipeg, in the Province of Manitoba, be adjudged bankrupt by virtue of a Bankruptcy Order hereby made on this date. The Court further orders that Ernst & Young Inc. of The City of Winnipeg, of the Province of Manitoba be appointed as Trustee of the estate of the bankrupt | Trustee site | |
| THIS COURT ORDERS that the Applicant be and hereby is granted short leave for the hearing of this motion | Trustee site | |
| The applicant, GE Canada Finance Holding Company ("the Applicant") hereby applies to the Court for a declaration that the respondent Paramount Truck Lines Ltd. ("the Respondent") is adjudged bankrupt and that a bankruptcy order be made in respect of the property of the Respondent of The City of Winnipeg, in the Province of Manitoba, lately carrying on business at 1200 Fife St., in The City of Winnipeg, in the Province of Manitoba | Trustee site | |
| Fourth report of the Receiver | Trustee site | |
| Fourth report of the Receiver, supplementary material | Trustee site | |
| This Court orders and declares that the Receiver's Sealed Report shall be treated as confidential and sealed and shall not form part of the public record nor be disclosed to any parties of this proceeding except subject to an undertaking and non-disclosure agreement in a form acceptable to the Receiver or otherwise, except: (a) by further Order of the Court, (b) upon the date on which the Receiver files with the Court written notice that the transactions contemplated in the Liquidation Services Agreement have closed, to the satisfaction of the Receiver, | Trustee site | |
| Third Report of the Receiver | Trustee site | |
| This Court orders that the following creditors of th Respondent do pay to the Receiver or the Receiver do hold back from the following creditors on account of the potential liability of such creditor to Canada Revenue Agency ("CRA") for Outstanding Source Deductions owing by the Respondent to CRA which money shall be held by the Receiver in trust pending further Order of this Honourable Court. This Court orders that the creditors do pay to the Receiver their share of the Retrieval Costs incurred by the Receiver. This Court orders that the Receiver shall not be required to release to any creditor the collateral secured in favour of such creditor without that creditor first paying to the Receiver the amounts allocated to such creditor for the Outstanding Source Deductions | Trustee site | |
| This Court orders that John Loewen and Sunrise Equipment Inc. and any party or parties related to John Loewen provide to the Receiver no later than 14 days after the signing of this Order, a full accounting of all assets removed from the premises of Paramount Truck Lines Ltd. and a full accounting of all funds paid by customers of Paramount Truck Lines Ltd. to any of John Loewen, Sunrise Equipment Inc. and any parties or entities related to John Loewen for the period May 3, 2011 to the date of this Order, | Trustee site | |
| Second Report of the Receiver - Supplementary Material | Trustee site | |
| Second Report of the Receiver | Trustee site | |
| This Court orders that paragraph 3 of the Initial Order shall be amended to include the following additional powers to the Receiver: a. to sell, convey, transfer, lease or assign the Property or any part or parts thereof out of the ordinary course of business, i) without the approval of this Court in respect of any transaction not exceeding $100,000, provided that the aggregate consideration for all such transactions does not exceed $500,000, and ii) with the approval of this Court in respect of any transaction in which the purchase price of the aggregate purchase price exceeds the applicable amount set out in the preceding clause, and in each such case notice under subsection 59(10) and (17) of The Personal Property Security Act (Manitoba) shall not be required, and b. to apply for any vesting order or other orders necessary to convey the Property or any part or parts thereof to a purchaser or purchasers thereof, free and clear of any liens or encumbrances affecting such Property | Trustee site | |
| Notice of Receiver | Trustee site | |
| Form 74 - Reclamation of Property | Trustee site | |
| First Report of the Receiver | Trustee site | |
| Notice of Application | Trustee site | |
| this Court orders that, pursuant to section $43(l) of the BIA, Ernst & Young Inc. is hereby appointed Receiver, without security, over all of the current and future assets, undertakings and properties of the Debtor acquired for, or used in relation to a business carried on by the Debtor, including all proceeds thereof | Trustee site | |
| Consent of Ernst & Young Inc | Trustee site | |
| Affidavit of David Kopchick | Trustee site |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Paramount Truck Lines Ltd” (Receivership (court-appointed)). Retrieved 20 September 2026, https://proceedings.ca/case/paramount-truck-lines-ltd