Trans Emerge Transport Inc.
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-24-00712328-00CL
Trans Emerge Transport Inc. is in court-appointed receivership under BIA s. 243 and the provincial Judicature Acts. Royal Bank of Canada, holding a General Security Agreement dated July 29, 2022 and related facility agreements, issued a demand letter on October 10, 2023 citing a balance as of October 6, 2023 of $10,218,098.38 CAD and $335,588.49 USD, guaranteed to $4,900,000 by Harminder and Rajwant Binapal, against whom RBC has not yet claimed. Spergel's review for RBC identified unremitted source deductions owed to CRA of over $1,000,000. More than 90 PPSA registrations exist against the debtor, including PMSI equipment financiers and several general registrations behind RBC's, among them 1000711945 Ontario Inc., which had been the purchaser in a since-abandoned transaction to acquire the debtor's indebtedness and security, and BVD Petroleum Inc., whose counsel indicated BVD would realize on the debts as a secured creditor. Pro-X Event Inc. has garnished RBC through Brampton Small Claims Court over an undisclosed underlying claim.
Approval and Vesting Order of The Honourable Justice Conway dated August 12, 2024 — Approval and vesting order
8 earlier updates, back to 22 January 2024 — subscribers.
Debtor
Trans Emerge Transport Inc.
Receiver
msi Spergel inc.
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Deemed trusts (CRA and other) | Unremitted source deductions (deemed trust)Deemed-trust class liability (CRA source deductions); RBC engaged Spergel for a limited review of priority payables and understands the Debtor has an outstanding liability for unremitted source deductions 'of over $1,000,000.00' - stated as a floor. — debtor: Trans Emerge Transport Inc. | $1M | Application Record of RBC dated January 5, 2024 |
This 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 — The Auction is hereby approved, and the execution of the Auction Agreement by the Receiver is hereby authorized and approved.Approval and Vesting Order of The Honourable Justice Conway dated… · 12 Aug 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| end purchasers at auction, unnamedthe Debtor's right, title and interest in and to the Property purchased by such respective Purchaser at the Auction · auction | not stated | Approved12 Aug 2024 | Approval and Vesting Order of The Honourable… |
| Date | Document | File |
|---|---|---|
Ancillary Order of The Honourable Justice Conway dated August 12, 2024
| PDF · Subscribers | |
Approval and Vesting Order of The Honourable Justice Conway dated August 12, 2024
| PDF · Subscribers | |
Endorsement of The Honourable Justice Conway dated August 12, 2024
| PDF · Subscribers | |
Endorsement of The Honourable Justice Black dated April 4, 2024
| PDF · Subscribers | |
Order of The Honourable Justice Black dated April 4, 2024
| PDF · Subscribers | |
Endorsement of The Honourable Justice Wilton-Siegel dated January 22, 2024
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
| Affidavit of Harjeet Mander sworn January 19, 2024 | PDF · Subscribers | |
| Affidavit of Harminder Binapal sworn January 17, 2024 | PDF · Subscribers | |
Endorsement of The Honourable Justice Penny dated January 8, 2024
| PDF · Subscribers | |
Application Record of RBC dated January 5, 2024
| 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., “Trans Emerge Transport Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 21 September 2026, https://proceedings.ca/case/trans-emerge-transport-inc