Reliance Logistics Inc.

Reliance Logistics Inc. is in bankruptcy under the BIA, commenced March 18, 2026, following a notice of intention to make a proposal under which a Proposal Trustee was appointed. An order was made in the proceeding on January 29, 2026. Unaudited financial information provided by management, not audited or reviewed by the Proposal Trustee, put total assets at $9,125,919 against total liabilities of $16,307,408 as at December 31, 2025. Royal Bank of Canada holds a general security agreement over all assets and was owed $1,700,000 on its operating line at that date, and was proposed to rank ahead of the Administration Charge. Daimler Truck Financial Services Canada Corporation, the primary financier of the fleet, was owed approximately $3,000,000 at the NOI filing date. The Canada Revenue Agency asserts a deemed trust claim, with employee source deductions payable of $3,759,512 at December 31, 2025; requirements to pay issued to Reliance's customers on December 4, 2025 impaired cash flow and have since been cancelled. Bank of Montreal Transportation Finance, Tpine Leasing Capital Corporation, CLE Capital Inc. and other lessors hold serialized equipment registrations in unquantified amounts.