Ontario · Receivership (court-appointed)
Motion Record of the Applicant dated May 22, 2026 Part 1
Application / notice of application · 22 May 2026
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 filing15 verified · 1 withheld
- applicantROYAL BANK OF CANADA
- courtSUPERIOR COURT OF JUSTICE
- court file noCL-26-00000202-0000
- provinceONTARIO
- appointeeMSI SPERGEL INC.
- appointee roleProposed Receiver
- secured creditorsnote: Named as 'Secured Creditor' on RBC's service list without stated claim amounts. Entities: Daimler Truck Financial Services Canada Corporation; VFS Canada Inc.; Stoughton Trailers Canada Corporation; Transport Trailer Sales Inc.; R & S Trailer Leasing Limited (o/a Breadner Trailers); Concentra Equipment Finance (a division of Bennington Financial Corp.); Coast Capital Equipment Finance Ltd.; PNC Vendor Finance Corporation Canada; PACCAR Financial Ltd.; Meridian OneCap Credit Corp. (listed twice, two addresses); TFG Financial Corporation; Geolin Credit-Bail Inc.; Mitsubishi HC Capital Canada Leasing, Inc.; Concentra Bank c/o Comm Leasing (listed twice, two addresses); Wells Fargo Equipment Finance Company; Bodkin (a division of Bennington Financial Corp.); LBEL Inc.; De Lage Landen Financial Services Canada Inc. · page: 2 · debtor: Roadx Express Ltd. and/or other Debtors (unspecified which registrations attach to which entity) · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: PPSA registrations, apparently against specific/serialized equipment (trucks, trailers, vehicles); no amounts or registration details stated in the excerpted pages
- secured creditorsnote: Listed twice on the service list with different addresses (5290 Yonge Street and 5255 Yonge Street). · page: 3 · creditor: DUCA Financial Services Credit Union Ltd. · currency: CAD · security: Unstated - listed as 'Secured Creditor' on RBC's service list
- secured creditorsnote: Numbered company; nature of relationship to Debtors and type of security not stated in this excerpt. · page: 4 · creditor: 2076401 Ontario Inc. · currency: CAD · security: Unstated - listed as 'Secured Creditor' on RBC's service list
- secured creditorspage: 4 · creditor: Vault Credit Corporation · currency: CAD · security: Unstated - listed as 'Secured Creditor' on RBC's service list
- secured creditorspage: 4 · creditor: The Bank of Nova Scotia · currency: CAD · security: Unstated - listed as 'Secured Creditor' on RBC's service list
- secured creditorspage: 7 · creditor: Bank of Montreal · currency: CAD · security: Unstated - listed as 'Secured Creditor' on RBC's service list
- secured creditorsnote: Total per RBC's table 'As of May 15, 2026, Roadx is indebted to RBC', comprising Overdrafts (CAD $1,917,496.76; USD $434,424.58), Visa (CAD $156,434.16; USD $35,228.27), Operating Facility CAD $3,460,688.98, RCAP Contracts #80790 (CAD $253,963.10) and #81331 (CAD $152,380.69), and Lease Facility across 10 leasing schedules; document states TOTAL CAD and TOTAL USD figures directly. At time of April 2026 transfer to Special Loans, overdrafts were described only as 'in excess of CAD$2,300,000 and USD$430,000' (prose approximation, page 13). Guarantee demand letters (demand date April 9, 2026) had earlier demanded $7,067,600.00 plus interest from date of demand, superseded by the later, higher May 15, 2026 balance. · page: 28 · as of: 2026-05-15 · amount: 8678880.43 · debtor: Roadx Express Ltd. (primary debtor); 10656925 Canada Inc., Blue Ocean Freight Inc., DXB Logistics Inc., GTR Express Inc. (corporate guarantors) · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreements (GSAs) over all assets, undertakings and property of each Debtor; corporate guarantees supported by GSAs
- secured creditorsnote: USD component of same total indebtedness as of May 15, 2026 (see CAD entry for breakdown). · page: 28 · as of: 2026-05-15 · amount: 469652.85 · debtor: Roadx Express Ltd. (primary debtor); 10656925 Canada Inc., Blue Ocean Freight Inc., DXB Logistics Inc., GTR Express Inc. (corporate guarantors) · creditor: Royal Bank of Canada · currency: USD · security: General Security Agreements (GSAs) over all assets, undertakings and property of each Debtor; corporate guarantees supported by GSAs
- secured creditorsnote: Subsidiary of RBC (related party). Contract #80790 balance CAD $253,963.10 and Contract #81331 balance CAD $152,380.69 as of May 15, 2026; these component balances are already included within RBC's total CAD indebtedness figure above and are not additionally summed here. · page: 28 · as of: 2026-05-15 · debtor: Roadx Express Ltd. · creditor: RCAP Leasing Inc. / Crédit-Bail RCAP Inc. · currency: CAD · security: RCAP Lease Contracts #80790 and #81331 (motor vehicle leases, 'RCAP Facility')
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.