Ontario · CCAA
Second Report of the Manager
Court officer report · 10 November 2025
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing3 verified
- secured creditorspage: 5 · debtor: Pride Entities · creditor: Royal Bank of Canada, in its capacity as Bilateral Lender (RBC Bilat) · currency: CAD · security: Collateral subject to Amended Collateral Management Order
- secured creditorsnote: Manager appointed to collect/dispose of collateral on behalf of RBC as Syndicate Agent; interim distributions of $55.6 million made to Lenders during reporting period · page: 17 · debtor: Pride Entities · creditor: Royal Bank of Canada, as administrative agent for the Syndicate Lenders (Fourth Amended and Restated Credit Agreement dated May 10, 2024) · currency: CAD · security: Security over Management Property / vehicles financed by Syndicate Lenders; approx. 170 Missing VINs specifically financed with outstanding principal balance of approx. $17.5 million
- secured creditorsnote: Approx. $8.1 million comprises arrears plus accelerated amounts owing to end of lease terms following full acceleration; excludes accrued interest and enforcement charges; earlier approximate figure of $1.6 million unpaid arrears (as of Oct 31, 2025) stated separately in prose · page: 22 · as of: October 14-15, 2025 (notice of acceleration of future payments under I-Way Leases) · amount: 8100000 · debtor: I-Way Lessees (Wings Freightway Inc., I-Way Transport Inc., 2834021 Ontario Inc., I-Way Logistics Inc.) · creditor: TPine Leasing Capital Corporation · currency: CAD · security: PPSA financing statements registered against each of the 47 I-Way Leased Vehicles under 20 leases