Ontario · Receivership (court-appointed)
First Report of the Receiver (Part 1), dated April 6, 2026
Court officer report · 6 April 2026
What we verified from this filing4 verified
- operational summaryThe Debtors' logistics business ceased operating following the Receiver's appointment; the Receiver has been focused on taking possession of assets, dealing with an uncooperative management, resolving issues with a tenant (Royal T) at the Slough Property, and preparing to market the two real properties for sale.
- recovery outcomeentries: basis: estimated · quote: NBC, the fulcrum creditor with a mortgage registered against each of the Properties, and which is expected to suffer a material shortfall in recovering the amount of its secured debt, supports approval of the Sale Processes, the Avison Young Listing Agreement and the CBRE Listing Agreement; · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: NBC · creditor name: NBC · interim final: unstated · related party: false · claims qualifier: unstated · table missing:
- report date6 April 2026
- report noFirst Report of the Receiver