Proceedings.

Trans Globe et al.

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Active
Proceeding
Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
Court
Ontario Superior Court of Justice
File
CV-24-00003312-0000
Filings held47
Last activity19 May 2026
On the record614 days
Secured debt$34.1M
OverviewSummary updated

Trans Globe Logistics Inc., Polestar Holdings Ltd. and Compass Rose International Transportation Inc. have been in court-appointed receivership since January 15, 2025, under s. 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority. Royal Bank of Canada holds general security agreements dated October 26, 2023 over each company's present and future assets, and against Polestar a collateral mortgage and assignment of rents dated November 1, 2023 relating to 12423 Coleraine Drive, Caledon, Ontario. As of June 27, 2024, RBC reported indebtedness of $34,120,086.38 from Trans Globe and $33,368,684.35 each from Polestar and Compass Rose, figures that overlap through cross-guarantees among the three. Polestar had defaulted on $194,921.39 of principal and interest due June 9, 2024. RBC issued demands and s. 244 notices of intention to enforce security on June 28, 2024. The proceeding remains active.

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Case updates48 dated entries
#Report

The officer filed report no. First Report. The Receiver initially operated the Debtors' freight business on an interim basis while exploring a going-concern sale, but after determining the proposed buyer's offer was not viable, it wound down the business and is now realizing on the Property (trucks, trailers, and real estate) amid discovered fraudulent conduct by former management and related parties.

Source: Third Report of the Receiver dated March 3, 2026 Part 2 of 2

#Order

Trans Globe et al. — Receivership filed, Ontario.

Parties

Debtor

Trans Globe et al.

Applicant

RBC

Receiver

KPMG

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice ChownOntario Superior Court of Justice4 orders, Jan 20253 cases on record
Justice Fowler-ByrneOntario Superior Court of Justice2 orders, May 20267 cases on record
Justice WilkinsonOntario Superior Court of Justice2 orders, Sep 20259 cases on record
Justice DerstineOntario Superior Court of Justice2 orders, Jun 20253 cases on record

Counsel of record

PartyCounselFirst seenSource
ReceiverKPMGChaitons LLP11 Sep 2025Factum · 11 Sep 2025
ApplicantRBCBorden Ladner Gervais LLP24 Jul 2024Application · 24 Jul 2024
DebtorTrans Globe et al.Bennett Jones LLP · Simmons Da Silva LLP5 Dec 2024Service list · 5 Dec 2024
CreditorStipe Loncar and Anita LoncarProfessional Corporation5 Dec 2024Service list · 5 Dec 2024
Capital structureAs asserted in the filings
stated amounts, drawn to scale · 1 named without a figure
#Priority classCreditorAmountSource
4SecuredRoyal Bank of Canada · in 556 casesGeneral Security Agreement dated October 26, 2023 (all-property); Master Equipment Lease Agreement dated May 14, 2021 (assumed from HSBC Bank Canada upon amalgamation effective March 29, 2024); Conditional Sales Contract dated February 16, 2022 (assigned from Porsche Centre Oakville); Compass-Trans Guarantee (max. $7,800,000, Oct 26, 2023); Trans-Polestar Guarantee obligations flow through as cross-guarantor — Total broken down by document as: $7,383,378.11 under Commitment Letter, $1,044,353.80 under Master Equipment Lease, $123,670.12 under Conditional Sales Contract, $1,457,306.94 under Tra · as of 27 Jun 2024$34.1MApplication Record dated July 24, 2024 Part 1 of 2
4SecuredRoyal Bank of Canada · in 556 casesGeneral Security Agreement dated October 26, 2023 (all-property); Collateral Mortgage/Charge dated November 1, 2023 in the registered principal amount of $34,690,000 (first fixed charge on Caledon Property, Instrument No. PR4268889); Notice of Assignment of Rents - General dated November 1, 2023 (Instrument No. PR4268897); Trans-Polestar Guarantee (max. $27,900,000); Compass-Polestar Guarantee (max. $27,900,000) — Total broken down as: $24,111,377.41 under Commitment Letter, $7,800,000 under Polestar-Trans Guarantee, $1,457,306.94 under Polestar-Compass Guarantee, inclusive of interest to June · as of 27 Jun 2024$33.4MApplication Record dated July 24, 2024 Part 1 of 2
4SecuredRCAP Leasing Inc. · in 69 casesRCAP Lease Agreement dated August 30, 2023; PPSA financing statement (file reference no. 796717539) registered August 30, 2023 — Related party: RCAP is wholly owned by RBC. Separate from missed monthly RCAP Rent arrears of $52,611.18 noted elsewhere in the affidavit (component of pre-default rent, not the total indebtedness figure). — debtor: Trans Globe Logistics Inc. · as of 27 Jun 2024$491KApplication Record dated July 24, 2024 Part 1 of 2
5PMSI / lessorsPPSA equipment financiers (PMSI class) · in 183 casesSerialized equipment/PPSA registrations against one or more of the Debtors, evidenced by inclusion on the service list (consistent with results of the certified PPSA searches referenced as Exhibits V, W and X) — Entities added to service list: TD Equipment Finance Canada (a division of The Toronto-Dominion Bank), The Toronto-Dominion Bank, Canadian Western Bank Leasing Inc., Travelers Leasing Ltd., Concentra Bank, Coast Capital Equipment Finance Ltd., The Bank of Nova Scotia, and individuals Stipe Loncar/Anita Loncar. No amounts or specific debtor allocations stated in the reviewed pages.—Application Record dated July 24, 2024 Part 1 of 2

“not stated” means the record names the claim without a figure; “—” means not in the extracted record.

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 processAs stated in the filings

3 transactions · 2 approved · 1 not completed — The Coleraine Property agreement of purchase and sale remains subject to purchaser conditions and Court approval; the Auction has been approved and the vehicle fleet sold by auction; broker listing agreements approved for real property salesThird Report of the Receiver dated March 3, 2026 Part 1 of 2 · 3 Mar 2026

Parties solicited

11

Third Report of the Receiver dated March 3, 2026 Part 1…

Bids received

5

Third Report of the Receiver dated March 3, 2026 Part 1…

PurchaserPriceStatusSource
end purchasers at the auction of the Vehicle Fleet, unnamedthe Debtors' and the Receiver's right, title and interest in and to the property purchased by such respective Purchaser at the Auction · auction · agreement 16 May 2025SealedGuaranteed Amount and First Threshold under the Auction Agreement redacted for commercial sensitivityApproved27 Jun 2025Approval and Vesting Order dated June 27, 2025
M.D Food Transporting Limitedthe assets described in the Sale Agreement (the 'Purchased Assets') · real property · nominee/assignee: a company to be incorporated · agreement 27 Oct 2025not statedApproved6 Feb 2026Approval and Vesting Order dated February 6,…
purchaser under agreement of purchase and sale for the Coleraine Property, unnamedthe Coleraine Property · real propertynot statedNot completedThird Report of the Receiver dated March 3,…
AdvisorsMcDougall Auctioneers Ltd. (auctioneer); Avison Young (listing broker); CBRE Limited (listing broker)Third Report of the Receiver dated March 3, 2026 Part 1 of 2
Closing termsVesting effective upon delivery of Receiver's Certificate confirming payment of Purchase Price and satisfaction of closing conditionsApproval and Vesting Order dated February 6, 2026
Fees and ratesAs stated in the filings

2 engagements · 2 firms — latest: (firm not named), Incremental Costs, $42,256.50 in feesSupplemental Report to the First Report of the Receiver · 4 Jul 2025

FirmPeriodHoursFeesRatesSource
(firm not named)Counsel to the receiverfirm not named in the headingIncremental Costs53.1$42,256.50ex. tax$350 – $8955 peopleSupplemental Report to the First Report of the Receiver · 4 Jul 2025
5 people — (firm not named), Incremental Costs
NameTitleHoursRateFees
George BenchetritStolen Trucks and Missing Trailers—20$895$17,900.00
George BenchetritMotion Materials and Court attendance—19$895$16,960.25
George BenchetritMail redirect—0.5$895$447.50
George BenchetritStolen Trans Globe Funds—4$895$3,580.00
David ImMotion Materials and Court attendance—9.6$350$3,368.75
Grand Total—53.1—$42,256.50
Subtotal—28.6—$20,329.00
KPMG Inc.ReceiverIncremental Costs392.6$215,706.65ex. tax$300 – $89516 peopleSupplemental Report to the First Report of the Receiver · 4 Jul 2025
16 people — KPMG Inc., Incremental Costs
NameTitleHoursRateFees
Paul van EykStolen Trans Globe Funds—2.4$895$2,127.86
Paul van EykMotion Materials and Court attendance—10.3$895$9,220.74
Paul van EykStolen Trucks and Missing Trailers—7.2$895$6,417.15
George BourikasStolen Compass Rose Funds—2.1$795$1,657.58
George BourikasMotion Materials and Court attendance—62.8$795$49,919.24
George BourikasMail redirect—1.1$795$839.52
George BourikasStolen Trucks and Missing Trailers—67.5$795$53,624.74
George BourikasStolen Trans Globe Funds—2.3$795$1,836.45
Manoj OommenStolen Trans Globe Funds—4.1$525$2,148.56
Manoj OommenStolen Trucks and Missing Trailers—60.2$525$31,580.59
Manoj OommenStolen Compass Rose Funds—3$525$1,550.33
Manoj OommenMotion Materials and Court attendance—17$525$8,917.65
Mathew RukavinaMotion Materials and Court attendance—33.2$300$9,963.75
Mathew RukavinaMail redirect—4.5$300$1,362.00
Mathew RukavinaStolen Trucks and Missing Trailers—115.1$300$34,540.50
Mathew RukavinaStolen Trans Globe Funds—0$300$0.00
Grand Total—392.6—$215,706.65
Subtotal—5.6—$2,201.52
Subtotal—249.9—$126,162.98
Subtotal—5—$3,207.90
Subtotal—8.8—$6,112.88
Subtotal—123.3—$78,021.38

Top rate $895 · 58th percentile of receiver rates, 2025 · of 49

Documents
47 filings
DateDocumentFile
Endorsement of Justice Fowler-Byrne dated May 19, 2026
  • Presiding officer Justice Fowler-Byrne
PDF
Order dated May 19, 2026
  • Presiding officer Justice Fowler Byrne
PDF
Responding Record dated May 18, 2026PDF
Motion Record of the Receiver dated March 3, 2026 Part 1 of 2 [ ]PDF
Motion Record of the Receiver dated March 3, 2026 Part 2 of 2 [ ]PDF
Third Report of the Receiver dated March 3, 2026 Part 1 of 2
  • Process results 11 solicited · 5 bids · as of 31 Jan 2025
  • Purchaser end purchasers at the auction of the Vehicle Fleet, unnamed · the Purchased Asset(s) · auction · price sealed · approved; purchaser under agreement of purchase and sale for the Coleraine Property, unnamed · the Coleraine Property · real property · not completed
  • Sale advisor McDougall Auctioneers Ltd. (auctioneer); Avison Young Commercial Real Estate Services, LP (listing broker); CBRE Limited (listing broker)
  • Sale outcome Liquidation in progress — The Coleraine Property agreement of purchase and sale remains subject to purchaser conditions and Court approval; the Auction has been approved and the vehicle fleet sold by auction; broker listing agreements approved for real property sales
PDF
Third Report of the Receiver dated March 3, 2026 Part 2 of 2
  • Operational summary The Receiver initially operated the Debtors' freight business on an interim basis while exploring a going-concern sale, but after determining the proposed buyer's offer was not viable, it wound down the business and is now realizing on the Property (trucks, trailers, and real estate) amid discovered fraudulent conduct by former management and related parties.
  • Process results 11 solicited · 5 bids · as of 31 Jan 2025
  • Purchaser purchaser of the Coleraine Property, unnamed · the Coleraine Property · real property · proposed
  • Report date 27 May 2025
  • + 3 more extracted facts
PDF
Receiver's Certificate dated February 17, 2026PDF
Approval and Vesting Order dated February 6, 2026
  • Closing terms Vesting effective upon delivery of Receiver's Certificate confirming payment of Purchase Price and satisfaction of closing conditions
  • Purchaser M.D Food Transporting Limited · nominee/assignee a company to be incorporated · the assets described in the Sale Agreement (the 'Purchased Assets') · real property · approved
PDF
Distribution and Ancillary Relief Order dated February 6, 2026PDF
Endorsement of Justice Barnes dated February 6, 2026
  • Presiding officer Justice Barnes
PDF
Motion Record of the Receiver dated November 17, 2025PDF
Second Report of the Receiver dated November 14, 2025PDF
Endorsement of Justice Wilkinson dated September 18, 2025
  • Presiding officer Justice Wilkinson
PDF
Order dated September 18, 2025
  • Presiding officer Justice Claire Wilkinson
PDF
Factum of the Receiver dated September 11, 2025
  • Counsel Chaitons LLP
PDF
Revised Notice of Motion of the Receiver dated July 4, 2025PDF
Supplemental Report to the First Report of the Receiver dated July 4, 2025
  • Fee schedule Engagements: Form: report_table · Rows: Paul van Eyk; George Bourikas; Manoj Oommen; Mathew Rukavina; Fees: 126162.98 · Hours: 249.9 · Quote: Subtotal | 249.9 | | $126,162.98 · Row kind: subtotal · Rate kind: standard · Name as stated: Subtotal; Paul van Eyk; George Bourikas; Manoj Oommen; Mathew Rukavina; Fees: 6112.88 · Hours: 8.8 · Quote: Subtotal | 8.8 | | $6,112.88 · Row kind: subtotal · Rate kind: standard · Name as stated: Subtotal; George Bourikas; Manoj Oommen; Fees: 3207.9 · Hours: 5 · Quote: Subtotal | 5.0 | | $3,207.90 · Row kind: subtotal · Rate kind: standard · Name as stated: Subtotal; George Bourikas; Mathew Rukavina; Fees: 2201.52 · Hours: 5.6 · Quote: Subtotal | 5.6 | | $2,201.52 · Row kind: subtotal · Rate kind: standard · Name as stated: Subtotal; Paul van Eyk; George Bourikas; Manoj Oommen; Mathew Rukavina; Fees: 78021.38 · Hours: 123.3 · Quote: Subtotal | 123.3 | | $78,021.38 · Row kind: subtotal · Rate kind: standard · Name as stated: Subtotal; Fees: 215706.65 · Hours: 392.6 · Quote: Grand Total | | 392.6 | | $215,706.65 · Row kind: subtotal · Rate kind: standard · Name as stated: Grand Total · Money: Tax: $28K · Label: Taxes · Quote: $28,041.86 · Fees: $216K · Quote: Fees of the Receiver | $215,706.65 · Total: $244K · Quote: $243,748.51 · includes tax · includes disbursements · Approximate: false · Disbursements: $0 · Quote: Fees of the Receiver | $215,706.65 | $0.00 · Period: Kind: unstated · Label: Incremental Costs · Quote: The table below summarizes the Incremental Costs by category, each of which are detailed further in the paragraphs that follow. · Approval: State: unstated · Averages: · Currency: · Invoices: · Firm text: KPMG Inc. · Firm quote: KPMG Inc., in its capacity as Receiver of Trans Globe Logistics Inc., Compass Rose International Transportation Inc., and Polestar Holdings Ltd. · Hours total: Quote: Grand Total | | 392.6 | | $215,706.65 · Value: 392.6 · Context quote: KPMG Inc., in its capacity as Receiver of Trans Globe Logistics Inc., Compass Rose International Transportation Inc., and Polestar Holdings Ltd. And not in its personal or corporate capacity; Form: report_table · Rows: George Benchetrit; George Benchetrit; George Benchetrit; George Benchetrit; David Im; Fees: 20329 · Hours: 28.6 · Quote: Subtotal | 28.6 | | $20,329.00 · Row kind: subtotal · Rate kind: standard · Name as stated: Subtotal; Fees: 42256.5 · Hours: 53.1 · Quote: Grand Total | | 53.1 | | $42,256.50 · Row kind: subtotal · Rate kind: standard · Name as stated: Grand Total · Money: Tax: $5.49K · Label: Taxes · Quote: $5,493.35 · Fees: $42.3K · Quote: Fees of the Receiver's Counsel | $42,256.50 · Total: $47.7K · Quote: $47,749.85 · includes tax · includes disbursements · Approximate: false · Disbursements: $0 · Quote: Fees of the Receiver's Counsel | $42,256.50 | $0.00 · Period: Kind: unstated · Label: Incremental Costs · Quote: The table below summarizes the portion of the Incremental Costs relating to the fees of the Receiver's Counsel. · Approval: State: unstated · Averages: · Currency: · Invoices: · Hours total: Quote: Grand Total | | 53.1 | | $42,256.50 · Value: 53.1 · Context quote: The table below summarizes the portion of the Incremental Costs relating to the fees of the Receiver's Counsel. · Firm unverified: true
  • Sale outcome Sale process approved — authorizing the Receiver to enter into the Coleraine Broker Listing Agreement and the Dunlop Broker Listing Agreement; list for sale the Coleraine Property and the Dunlop Property; sealing pending completion of the Auction
PDF
Approval and Vesting Order dated June 27, 2025
  • Closing terms Upon delivery of a Purchaser Bill of Sale following receipt of purchase price, the Purchased Assets vest free and clear of Claims
  • Purchaser each purchaser at the Auction, unnamed · the Debtors' and the Receiver's right, title and interest in and to the property purchased by such respective Purchaser at the Auction · auction · approved
  • Sale advisor McDougall Auctioneers Ltd. (auctioneer)
  • Sale outcome Sale approved — Order authorizing the Auction Services Agreement and vesting in each purchaser at the Auction
PDF
Endorsement of Justice Derstine dated June 27, 2025
  • Presiding officer Justice Derstine
PDF
Order dated June 27, 2025
  • Presiding officer Justice Derstine
PDF
Responding Record of 2268325 Ontario Inc. dated June 22, 2025PDF
Factum of the Receiver dated June 10, 2025PDF
First Report of the Receiver dated May 27, 2025 Part 1 of 2
  • Purchaser each Purchaser at the Auction, unnamed · 53 trucks and trailers as noted in Schedule 'A' of the Auction Agreement · auction · price sealed · proposed; purchaser of the Coleraine Property, unnamed · the Coleraine Property · real property · proposed
  • Sale advisor McDougall Auctioneers Ltd. (auctioneer); Avison Young Commercial Real Estate Services, LP (listing broker); CBRE Limited (listing broker)
PDF
First Report of the Receiver dated May 27, 2025 Part 2 of 2
  • Sale advisor Avison Young (listing broker)
PDF
Motion Record of the Receiver dated May 27, 2025 Part 1 of 2PDF
Motion Record of the Receiver dated May 27, 2025 Part 2 of 2PDF
Notice and Statement of the Receiver dated January 24, 2025PDF
Endorsement Reasons for Decision of Justice Chown dated January 17, 2025
  • Presiding officer Justice Chown
PDF
Appointment Order dated January 15, 2025
  • Applicant Royal Bank of Canada
  • Appointee KPMG Inc.
  • Appointee role receiver and manager
  • Commencement date 15 January 2025
  • + 5 more extracted facts
PDF
Endorsement of Justice Chown dated January 15, 2025
  • Presiding officer Justice Chown
PDF
Report of the Proposed Receiver dated January 14, 2025PDF
Endorsement of Justice Chown dated January 8, 2025
  • Presiding officer Justice Chown
PDF
Affidavit of Ajen Prasad dated January 7, 2025PDF
Endorsement of Justice Tzimas dated December 17, 2024
  • Presiding officer Justice Tzimas
PDF
Reply Factum of the Applicant dated December 9, 2024
  • Counsel Borden Ladner Gervais LLP
PDF
Supplemental Book of Authorities dated December 9, 2024PDF
Factum of the Respondents dated December 5, 2024
  • Counsel Bennett Jones LLP
PDF
Service list as of December 5, 2024
  • Counsel Borden Ladner Gervais LLP
PDF
Supplementary Answers to Undertakings and Under Advisements from Cross-Examination of P. Randhawa dated September 20, 2024PDF
Reply Affidavit to Tro DerBedrossian dated August 28, 2024PDF
Motion Record of the Respondents dated August 23, 2024 Part 1 of 2PDF
Affidavit of Tro DerBedrossian dated August 16, 2024
  • Counsel Borden Ladner Gervais LLP
  • Secured creditors $399K · Note: Indebtedness comprised of $96,727.06 (June 2023 CSC) + $302,719.11 (October 2023 CSC), inclusive of interest to Aug 13, 2024, excluding costs/legal fees. The Supplementary Affidavit (p.2-3) states the total as $399,466.17, which is inconsistent with the sum of the two components and the demand letter total of $399,446.17; the demand letter figure (matching the stated components) is used here. · Page: 32 · As of: 2024-08-13 · Debtor: Trans Globe Logistics Inc. · Creditor: Royal Bank of Canada · Security: Conditional Sales Contract dated June 26, 2023 (vehicle financing, 2023 GMC Sierra 1500); Conditional Sales Contract dated October 12, 2023; General Security Agreement dated October 26, 2023
PDF
Application Record dated July 24, 2024 Part 1 of 2
  • Secured creditors $491K · Note: Related party: RCAP is wholly owned by RBC. Separate from missed monthly RCAP Rent arrears of $52,611.18 noted elsewhere in the affidavit (component of pre-default rent, not the total indebtedness figure). · Page: 23 · As of: 2024-06-27 · Debtor: Trans Globe Logistics Inc. · Creditor: RCAP Leasing Inc. · Security: RCAP Lease Agreement dated August 30, 2023; PPSA financing statement (file reference no. 796717539) registered August 30, 2023
PDF
Application Record dated July 24, 2024 Part 2 of 2
  • Province Ontario
  • Secured creditors $34.1M · Note: Total comprises: $7,383,378.11 under the Commitment Letter (incl. Credit Card Facilities); $123,670.12 under the Conditional Sales Contract; $1,044,353.80 under the Master Equipment Lease; $24,111,377.41 under Trans Globe's guarantee of Polestar Holdings Ltd.'s debt (guarantee limit $27,900,000); and $1,457,306.94 under Trans Globe's guarantee of Compass Rose International Transportation Inc.'s debt (guarantee limit $7,800,000). Demand for payment and Notice of Intention to Enforce Security issued June 28, 2024 (BIA s.244). Commitment Letter security package (Oct 12, 2023) also includes a postponement and assignment of claim (form 918) signed by Daljeet Kaur Randhawa, a related-party individual (director/guarantor) - personal, not a company claim. · Page: 254 · As of: 2024-06-27 · Debtor: Trans Globe Logistics Inc. · Creditor: Royal Bank of Canada · Security: General security agreement dated October 26, 2023, over all of the present and future assets, property and undertaking of the debtor; security also stated to secure obligations under a Conditional Sales Contract dated February 16, 2022 and a Master Equipment Lease dated May 14, 2021 (originally with HSBC Bank Canada, predecessor to RBC)
PDF
Book of Authorities dated July 24, 2024PDF
Statement of Law dated July 24, 2024
  • Counsel Borden Ladner Gervais LLP
  • Court SUPERIOR COURT OF JUSTICE
  • Court file no CV-24-00003312-0000
  • Province ONTARIO
  • + 1 more extracted fact
PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “Trans Globe et al.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/trans-globe-et-al

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Sources last checked · summary updated 7 August 2026 · Report a correction · Printed from proceedings.ca/case/trans-globe-et-al

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.