Ontario · NOI
Motion Record of NTSM returnable October 5, 2026
Application / notice of application · 2 October 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 filing9 verified
- secured creditorsnote: Post-initial-proposal lender (advanced after Feb 20, 2025 approval). Term loan balance is payable under the APA purchase price 'as of the Closing Date' but no dollar figure is stated on these pages. Secured status is inferred from J9's subordination in its favour and Oxygen's listing as counsel-represented party; the security instrument is not described. · page: 15 · debtor: National Traffic Safety Management Inc. · creditor: Oxygen Working Capital Corp. · currency: CAD · security: Loan agreement dated April 28, 2025 and accounts receivable Factoring Agreement; J9 subordinated its security in favour of Oxygen
- secured creditorsnote: Security subordinated in favour of Oxygen in connection with the April 2025 financing. Related-party flag: accrued consulting fees of approx. $500,000 owed to J9 were released under the 2025 amended proposal. Class 2 secured creditors (J9, Betty Copeland, 1555207 Ontario Inc.) with aggregate secured principal of $750,000 were to exchange debt for preferred shares under the Amended Proposal — the $750,000 is an aggregate across three creditors, not J9's own balance. Current balance not stated. · page: 15 · debtor: National Traffic Safety Management Inc. · creditor: J9 Investments Ltd. · currency: CAD · security: Court-ordered charge on all property and assets of the Debtor (interim-financing lender, Order of Justice Cavanagh dated April 16, 2024); retained its security under the Initial Proposal
- secured creditorsnote: Buyout amount for the leased vehicles is payable under the APA and an agreement has been reached with Emkay, but the dollar figure is not stated. Emkay's threat to repossess the trucks triggered the April 24, 2026 NOI filing. · page: 16 · debtor: National Traffic Safety Management Inc. · creditor: Emkay Canada Leasing Corp. · currency: CAD · security: Lessor of vehicles used by the Company (fleet lease); also listed as equipment financier/lessor in the Amended Proposal
- secured creditorsnote: Deemed-trust class. Amounts owing for source deductions are part of the APA purchase price but no amount is stated. The Initial Proposal default arose from non-payment of post-filing amounts to CRA. · page: 17 · debtor: National Traffic Safety Management Inc. · creditor: Canada Revenue Agency (source deductions) · currency: CAD · security: Deemed trust / Crown priority claim for source deductions
- unsecured creditorsnote: Approximate figure; covers pension contribution arrears only. Pre-filing vacation pay arrears are also referenced but not quantified. 'Pre-Filing Employee Claims' amount to be paid under the APA is defined in the APA and not stated here. Post-filing pension remittances of $10,000 weekly have been paid to LIUNA local 837 while arrears continue to accrue. Employee/pension claims may carry preferred or deemed-trust status; not stated. · page: 19 · as of: Filing Date (April 24, 2026) · basis: Pension contribution arrears under the Collective Agreement 'approximately $167,000' per affidavit of Antonio Bruno · amount: 167000 · debtor: National Traffic Safety Management Inc. · creditor: Pre-Filing Employee Claims (unionized employees, LIUNA locals 837, 183, 506) · currency: CAD
- secured creditorsnote: Described in the 2025 Amended Proposal; the 2026 filings state Oxygen refinanced certain existing indebtedness, so whether FundThrough remains outstanding is not stated. Balance not stated. · page: 35 · debtor: National Traffic Safety Management Inc. · creditor: FundThrough Inc. · currency: CAD · security: First-ranking court-ordered charge on Eligible Receivables (interim financing, Order of Justice Osborne dated June 27, 2024)
- secured creditorsnote: Status as described in the Amended Proposal (Class 1 Secured Creditor, to be paid per existing terms); balance not stated. Whether still current at the 2026 filing is not addressed on these pages. · page: 35 · debtor: National Traffic Safety Management Inc. · creditor: Royal Bank of Canada · currency: CAD · security: Perfected general security agreement over all property and assets, securing a HASCAP loan (per 2025 Amended Proposal)
- secured creditorsnote: The $750,000 is the aggregate across Copeland, 1555207 Ontario Inc. and J9; individual balances not stated. Whether the share exchange was completed is not stated on these pages. · page: 42 · debtor: National Traffic Safety Management Inc. · creditor: Betty Copeland and 1555207 Ontario Inc. · currency: CAD · security: Class 2 secured claims (with J9) in aggregate principal amount of $750,000, to be exchanged for 750,000 Class A Preferred Shares under the Amended Proposal; both appear on the 2026 service list (1555207 Ontario Inc. as PPSA registrant)
- recovery outcomeentries: basis: plan · quote: The Proven Claims of Preferred Creditors, if any, are to be paid in full, without interest, from the Proposal Proceeds, in priority to all Claims of Unsecured Creditors. · pct of: proven_claims · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Preferred Creditors · interim final: unstated · conditional on: if any; paid without interest from the Proposal Proceeds, in priority to Unsecured Creditors · claims qualifier: unstated; basis: plan · quote: Crown Priority Claims, if any, shall be paid in full, without interest, within six months following the Effective Date. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: debtor · class label: Crown Priority Claims · interim final: unstated · conditional on: if any; without interest, within six months following the Effective Date · claims qualifier: unstated; basis: plan · quote: The Proven Claims, if any, of the Employee Creditors shall be paid immediately after the Effective Date. · pct of: proven_claims · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Employee Creditors · interim final: unstated · conditional on: if any; paid immediately after the Effective Date · claims qualifier: unstated · table missing: