R & N Turna Holdings Incorporated and Turna’s Petroleum Incorporated
- 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
- File
- CV-25-00000743-0000
- Industry
- Retail · Gas stations & convenience stores
R & N Turna Holdings Incorporated and Turna's Petroleum Incorporated were placed in court-appointed receivership on 21 March 2025, when the Ontario Superior Court of Justice appointed The Fuller Landau Group Inc. as receiver under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, on the application of the Royal Bank of Canada. RBC's claim is dominated by a matured term loan of $3,035,895.71, accruing interest at $245.99 a day, alongside a demand loan of $40,183.12. The Canada Revenue Agency is owed HST and income-tax remittances.
The court granted an approval and vesting order for the sale to 14351011 Canada Inc. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment of purchase price and satisfaction of closing conditions. Sealed: unredacted Sale Agreement.
Source: Approval and Vesting Order
The officer filed report no. First Report. The Receiver determined that continuing to operate the Gas Station would not be profitable and elected not to continue operations during the receivership; instead it focused on marketing and selling the Arthur Property, ultimately entering into an agreement of purchase and sale now awaiting court approval.
Source: Receiver's First Report
The court appointed The Fuller Landau Group Inc. as receiver, on the application of ROYAL BANK OF CANADA. Court file CV-25-00000743-0000.
Source: Receivership Appointment Order
Precedent note
Reversing the Crown's GST/HST trust
Outside insolvency, the Crown's trust for unremitted GST/HST can rank ahead of a lender's security; a bankruptcy or a CCAA ends that priority. Seven 2026 files show lenders choosing their route, and four show the trust that survives both, for payroll source deductions.
Case update
Turna's Petroleum: the assignment that put CRA's HST behind RBC
Eighteen months after Royal Bank of Canada obtained a receiver over a Thornbury gas station, The Fuller Landau Group Inc. has moved to be discharged — the Esso at 40 Arthur Street West produced $2,434,740.00, RBC has taken $1,700,000 and stands to take $359,582.36 more, and an assignment in bankruptcy filed for the holding company on June 4, 2026 left the Canada Revenue Agency's HST no longer a priority claim in the receivership.
Debtor
R & N Turna Holdings Incorporated and Turna’s Petroleum Incorporated
Receiver
Fuller Landau
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Mitchell | Ontario Superior Court of Justice | 3 orders, Jan 2026 | 9 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverFuller Landau | Aird & Berlis LLP | 21 Jan 2026 | Factum · 21 Jan 2026 |
| ApplicantRoyal Bank of Canada | Soloway Wright LLP | 21 Mar 2025 | Order · 21 Mar 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 985 casesUnpaid source deduction remittances; deemed trust class (priority payable) — debtor: Turna's Petroleum Incorporated · as of 25 Nov 2024 | $2.39K | Application Record |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
8 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured 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.
Sale approved — Court approved the TransactionApproval and Vesting Order · 30 Jan 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 14351011 Canada Inc.Turna's right, title and interest in and to the Property and any chattels described in the Sale Agreement (collectively, the "Purchased Assets") · real property · agreement 25 Nov 2025 | Sealed | Approved30 Jan 2026 | Approval and Vesting Order |
Unsecured creditors: no distribution. RBC short.Motion Record of the Receiver · 16 Sep 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | RBC's secured claim | — | interim | Finalper the receiver | Motion Record of the Receiver · 16 Sep 2026 |
| Secured | RBC | — | shortfallconditional | Estimatedper the receiver | Receiver's First Report · 21 Jan 2026 |
| Unsecured | creditors from Petroleum's assets | — | no distribution | per the receiver | Motion Record of the Receiver · 16 Sep 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.
1 blurred figure above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansProfessional fees
$84.8K
As at 31 Dec 2025Receiver's First Report
| Date | Document | File |
|---|---|---|
Motion Record of the Receiver
| PDF · Subscribers | |
Ancillary Relief Order
| PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
Endorsement
| PDF · Subscribers | |
Factum of the Receiver
| PDF · Subscribers | |
Motion Record
| PDF · Subscribers | |
Receiver's First Report
| PDF · Subscribers | |
Receivership Appointment Order
| PDF · Subscribers | |
Application Record
| 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., “R & N Turna Holdings Incorporated and Turna’s Petroleum Incorporated” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/r-n-turna-holdings-incorporated-and-turna-s-petroleum-incorporated