Ontario · CCAA
First Report of the Monitor with Appendices dated May 16, 2025
Court officer report · 16 May 2025
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What we verified from this filing4 verified
- secured creditorsnote: Outstanding balance not stated in the reviewed pages. Monitor's mandate expressly includes assessing RBC's security position. Loan agreement reportedly requires Debtor to maintain day-to-day banking with RBC; Debtor diverted deposits to new BMO accounts, which Monitor views as circumventing RBC's rights under the Monitor Order (para. 10, carve-out preserving RBC's rights/remedies including set-off). · page: 3 · debtor: DC Freight Haulers Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General security interest over all assets, undertakings and properties of the Debtor; RBC obtained appointment of msi Spergel inc. as receiver under s.243(1) BIA / s.101 CJA (application adjourned, interim Monitor appointed)
- secured creditorsnote: Deemed-trust class. Per CRA online account printout dated May 14, 2025 (printout did not specify a business number or the Debtor's name); no amounts outstanding for HST, corporate tax, or fuel charge as of the same date, and no outstanding returns to be filed for any of these categories. · page: 10 · as of: 2025-05-14 · amount: 902.54 · debtor: DC Freight Haulers Inc. · creditor: Canada Revenue Agency (source deductions) · currency: CAD · security: Deemed trust claim (source deductions)
- secured creditorsnote: Aggregated per PMSI equipment-financier class; four secured proofs of claim received May 5, 2025, each dated/sworn April 30, 2025, each stating indebtedness 'at the date of receivership, namely March 31, 2025, and still' owing: $27,052.75 (V24385, MHCC Inc.), $21,757.20 (V24616, MHCC Leasing), $111,215.45 (V42937, MHCC Leasing), $36,182.34 (V24287, MHCC Leasing) = $196,207.74 total as reported in the First Report. Each proof also includes a reclamation-of-property demand for the underlying serialized equipment. Monitor requested release of interest regarding the equipment. · page: 11 · as of: 2025-03-31 · amount: 196207.74 · debtor: DC Freight Haulers Inc. · creditor: PPSA equipment financiers (PMSI class) - Mitsubishi HC Capital Canada Inc. / Mitsubishi HC Capital Canada Leasing, Inc. (MHCC) · currency: CAD · security: Purchase-money/equipment lease security interests over specific serialized vehicles/trailers under four contracts: V24385 (2016 Great Dane Reefer trailer), V24616 (2018 Wabash Reefer trailer), V42937 (2023 Mack Anthem truck), V24287 (2018 Utility trailer)
- secured creditorsnote: On April 16, 2025, Bennington emailed the Monitor inquiring whether it could proceed with recovery efforts against the Debtor, stating its assets were at risk; no claim amount is stated in the reviewed pages. · page: 11 · debtor: DC Freight Haulers Inc. · creditor: Bennington Financial Corp. · currency: CAD · security: Equipment financing (nature/collateral not specified in reviewed pages)