Tung Air Transport Ltd. is in court-appointed receivership under s. 243 of the Bankruptcy and Insolvency Act, commenced April 14, 2025 and still active, alongside related Credit Parties 2527366 Ontario Inc. and R. Lessard Trucking Limited, with 1000101395 Ontario Inc. as a related-party secured guarantor. Royal Bank of Canada, the moving secured creditor, put principal and interest outstanding as of January 9, 2025 at $1,595,068.35 from Tung Air, $13,643,746.94 from 2527366 and $2,793,188.23 from Lessard, an aggregate RBC states as $18,032,003.52, secured by general security agreements registered under the Ontario PPSA, cross-guarantees among the three debtors, guarantees from 1000101395 dated May 30, 2023, and mortgages over the Kamato and Manning Road properties totalling $29,200,000. Some three dozen equipment and vehicle financiers are also listed as secured parties, with no amounts stated.
The court granted an approval and vesting order for the sale to 2150817 Ontario Limted. Closing terms, as extracted: Receiver's Certificate to be filed confirming completion of transaction.
Source: Approval and Vesting Order of the Honourable Justice Cavanagh dated November 24, 2025
Endorsement of the Honourable Justice Cavanagh dated November 24, 2025 — Endorsement / reasons
The court granted an approval and vesting order for the sale to Vince Moceri Holdings Inc. Closing terms, as extracted: Receiver's Certificate to be filed confirming Closing.
The court appointed msi Spergel Inc., on the application of Royal Bank of Canada. Court file CV-25-00738060-00CL.
Source: Order of the Honourable Justice J. Dietrich dated April 14, 2025
Endorsement of the Honourable Justice J. Dietrich dated April 14, 2025 — Endorsement / reasons
Application Record of the Respondent dated March 26, 2025 was filed. Court file CV-25-00738060-00CL.
Source: Application Record of the Respondent dated March 26, 2025
Debtor
Tung Air Transport Ltd. et al.
Applicant
RBC
Receiver
msi Spergel inc.
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 4 orders, Oct 2025 | 245 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 3 orders, Nov 2025 | 318 cases on record |
| Justice Dietrich | Ontario Superior Court of Justice | 2 orders, Apr 2025 | 133 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Receivermsi Spergel inc. | Borden Ladner Gervais LLP | 8 Oct 2025 | Factum · 8 Oct 2025 |
| DebtorTung Air Transport Ltd. et al. | Kramer Simaan Dhillon LLP | 7 Apr 2025 | Factum · 7 Apr 2025 |
| CreditorRoyal Bank of Canada | Aird & Berlis LLP | 11 Apr 2025 | Affidavit · 11 Apr 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Royal Bank of Canada (RBC) · in 584 casesKamato Mortgage ($18,040,000.00 registered principal, first-priority charge on Kamato Property, direct grantor 252); Lessard-Manning Mortgage ($10,060,000.00 registered principal) via Lessard-252 Cross-Guarantee (limited to $13,597,000.00); 100-Manning Mortgage ($1,100,000.00 registered principal) via 100-252 Guarantee (limited to $13,597,000.00); GSA blanket personal property security — Figure is RBC's alleged direct indebtedness as of Jan 9, 2025, per responding affidavit para. 32(b); an earlier exact dated balance in RBC's demand letter Schedule 'A' (Exhibit D) states 2527366 Ontario Inc. t · as of 9 Jan 2025 | $13.6M | Application Record of the Respondent dated March 26, 2025 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 5 | PMSI / lessors |
10 more claims in 2 classes The stack holds Secured and PMSI / lessors 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.
2 transactions · 2 approved — Transctio aprovedApproval and Vesting Order of the Honourable Justice Cavanagh dated… · 24 Nov 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 2150817 Ontario LimtedPurchased Aset · asset sale · agreement 22 Sep 2025 | Subscribers | Approved14 Oct 2025 | Approval and Vesting Order (Auction Services… |
| Vince Moceri Holdings Inc.the Lessard Assets and the 100 Ontario Inc. Assets · real property · agreement 12 Sep 2025 | not stated | Approved14 Oct 2025 | Approval and Vesting Order (Windsor… |
| Date | Document | File |
|---|---|---|
Ancillary Order of the Honourable Justice Cavanagh dated November 24, 2025
| PDF · Subscribers | |
Approval and Vesting Order of the Honourable Justice Cavanagh dated November 24, 2025
| PDF · Subscribers | |
Endorsement of the Honourable Justice Cavanagh dated November 24, 2025
| PDF · Subscribers | |
| Motion Record of the Receiver dated November 17, 2025 | PDF · Subscribers | |
Ancillary Order of the Honourable Justice Steele dated October 14, 2025
| PDF · Subscribers | |
Approval and Vesting Order (Auction Services Agreement) of the Honourable Justice Steele dated October 14, 2025
| PDF · Subscribers | |
Approval and Vesting Order (Windsor Transaction) of the Honourable Justice Steele dated October 14, 2025
| PDF · Subscribers | |
Endorsement of the Honourable Justice Steele dated October 14, 2025
| PDF · Subscribers | |
Factum of the Approval of Sales and Auction Agreement dated October 8, 2025
| PDF · Subscribers | |
Endorsement of the Honourable Justice J. Dietrich dated April 14, 2025
| PDF · Subscribers | |
Order of the Honourable Justice J. Dietrich dated April 14, 2025
| PDF · Subscribers | |
Supplementary Affidavit dated April 11, 2025
| PDF · Subscribers | |
Factum of the Respondents dated April 7, 2025
| PDF · Subscribers | |
Application Record of the Respondent dated March 26, 2025
| 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., “Tung Air Transport Ltd. et al.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/tung-air-transport-ltd-et-al
Sources last checked · summary updated 7 August 2026 · Report a correction · Printed from proceedings.ca/case/tung-air-transport-ltd-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.