Ontario · NOI
Motion Record of NTSM returnable July 31, 2026
Application / notice of application · 31 July 2026
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What we verified from this filing7 verified
- secured creditorsnote: Company in default under Oxygen Credit Facilities as of June 11, 2026 affidavit; forbearance agreement executed June 12, 2026; Administration Charge ranks behind Oxygen's interest in factored receivables · page: 8 · debtor: National Traffic Safety Management Inc. · creditor: Oxygen Working Capital Corp. · currency: CAD · security: Security interest in factored accounts receivable pursuant to loan agreement dated April 28, 2025 and accounts receivable Factoring Agreement (Oxygen Credit Facilities)
- unsecured creditorsnote: Local 837: lump sum payment of $15,000 made July 28, 2026 re post-filing unpaid remittances; payment schedule agreed via Minutes of Settlement dated July 29, 2026; separately, pre-involvement CBA required $50,000 pension arrears payment due May 31, 2026 per May 30 affidavit · page: 10 · basis: Affidavit narrative of arrears in remittances (health benefits, pension benefits, vacation pay, union dues, administrative fees) · debtor: National Traffic Safety Management Inc. · creditor: Labourers' International Union of North America, Local 837, 506 and 183 · currency: CAD
- unsecured creditorsnote: Approximate figure; Company intends to pay during week of August 14, 2026; deemed trust class not expressly stated but arises from HST/source deduction remittance obligations · page: 22 · as of: end of June 2026 · basis: Affidavit narrative re May 2026 HST remittance arrears · amount: 40000 · debtor: National Traffic Safety Management Inc. · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorsnote: Approximate figure; intended payment during week of July 31, 2026 · page: 23 · as of: May 2026 · basis: Affidavit narrative re post-filing source deduction arrears · amount: 16000 · debtor: National Traffic Safety Management Inc. · creditor: CRA (post-filing source deductions, non-unionized employees) · currency: CAD
- secured creditorsnote: Interim Financing Loan/Charge described as contemplated/in process of being finalized at page 33-34; subsequently reported as no longer required per page 48 affidavit · page: 34 · debtor: National Traffic Safety Management Inc. · creditor: Altitude Capital Partners · currency: CAD · security: Proposed Interim Financing Charge of $500,000 to secure Interim Financing Loan plus interest and costs (interim financing ultimately not proceeded with per later affidavit)
- secured creditorsnote: Ranks in priority to all other encumbrances except Oxygen's interest in factored receivables · page: 40 · debtor: National Traffic Safety Management Inc. · creditor: Administrative Professionals (TDB Restructuring Limited as Proposal Trustee, Proposal Trustee's counsel, and Company's counsel) · currency: CAD · security: Administration Charge over all present and future assets, undertakings and property of the Company, not exceeding $50,000 (before HST and disbursements) per June 3, 2026 order, later increased to $80,000 per June 15, 2026 order
- counselChaitons LLP