Ontario · CCAA
Motion Record of the Applications (returnable September 29, 2026)
Application / notice of application · 24 September 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 filing12 verified
- secured creditorsnote: Post-filing DIP facility; outstanding balance not stated. Related to the Fourth ARIO. Separately, the initial March 2025 DIP was from BMO with an initial max $850,000 (BMO DIP Lender's Charge). · page: 23 · debtor: Applicants (borrowers) · creditor: 1001346148 Ontario Inc. (DIP Lender) · currency: CAD · security: Debtor-in-possession facility approved Dec 3, 2025 up to a maximum principal amount of $2.5 million (facility limit, not balance).
- financial positionnote: 2024 FS asset components: cash $494,886; accounts receivable $7,588,060; GST/HST recoverable $949,880; prepaid $1,030,889; notes receivable current $72,240; capital assets $8,514,125; captive insurance bond $1,921,197; notes receivable $320,633; due from related parties $7,094,693; due from past directors $4,616,045. Liabilities: bank loan $880,892; A/P and accrued $5,429,935; government remittances $39,184; income taxes payable $1,510,837; current capital lease $1,167,555; current LTD $1,229,755; RBC loan $29,202; due to shareholders $2,524,246; capital lease $2,697,867; LTD $3,104,428; due to related parties $4,799,119. Statements are pre-filing (filing was March 2025). · page: 60 · as at: 2024-03-31 · basis: WWC unaudited year-end financial statements (book value) for year ended March 31, 2024; prepared by management prior to the January 21 Decision and subject to the parties' resolution of certain disputed historical financial information. 2023 FS comparatives (March 31, 2023, unaudited): total assets $25,791,192 (text states $25.7 million); total liabilities $17,914,655. · scope: World Wide Carriers Ltd. (WWC) only; excludes real property held by other group entities (e.g., 202 Ontario, 200 Edward, 90 Gaylord, 87 Mountainview). No consolidated statements exist for the World Wide Group; financial statements for 261 Ontario, JCD, PFS and 87 Mountainview are not available. · currency: CAD · total assets: 32602648 · total liabilities: 23413020
- unsecured creditorsnote: Components shown in the liabilities table, not summed: Accounts payable and accrued liabilities $5,429,935; Income taxes payable $1,510,837; Government remittances $39,184; Due to shareholders $2,524,246; Due to related parties $4,799,119. Intercompany balances (notably with WWASG) remain subject to the Forensic Investigation. 2023 comparatives: A/P $3,244,956; due to related parties $7,041,781. The document also references an Armour Insurance Brokers/Great Atlantic Assurance claim and Carrier Claims process, but gives no amounts. · page: 60 · as of: 2024-03-31 · basis: WWC unaudited financial statements, March 31, 2024; prepared by management prior to January 21 Decision and subject to resolution of disputed historical information · debtor: World Wide Carriers Ltd. · creditor: Related parties and shareholders (per WWC 2024 FS) · currency: CAD
- unsecured creditorsnote: Quasi-governmental balances in the 2024 FS: government remittances $39,184 and income taxes payable $1,510,837 at March 31, 2024; no creditor-specific claim or deemed trust amount is stated. · page: 60 · basis: Government remittances and income taxes payable per WWC 2024 FS · debtor: World Wide Carriers Ltd. · creditor: Canada Revenue Agency / Ontario Ministry of Finance · currency: CAD
- secured creditorsnote: Stated as 'approximately $4,111,396.68 and USD $50,000 plus accruing legal fees and disbursements'. Described elsewhere in the document as the Applicants' 'former first-ranking secured creditor' (repaid per Dec 2025 affidavit). Pre-filing figure; no current balance stated. · page: 62 · as of: 2025-02-05 · amount: 4111396.68 · debtor: World Wide Carriers Ltd. (WWC) · creditor: Bank of Montreal (BMO) · currency: CAD · security: BMO Loan Agreement (Dec 10, 2019, as amended); GSAs over personal property of WWC and other Applicants dated Jan 7, 2020; cash collateral pledge of $840,073 (GIC) per WWC Cash Collateral Pledge Agreement (July 2024); guarantees from WWT&T, 260 Ontario, WWAF, WWASG, 202 Ontario and Shareholders. Facilities: master equipment leasing facility max $1,000,000; demand loan $672,573 covering letters of credit; corporate MasterCards USD $50,000 and CAD $100,000.
- secured creditorsnote: Amount stated as 'approximately' plus accruing legal fees and disbursements. Pre-filing figure. · page: 63 · as of: 2025-02-05 · amount: 7535148.63 · debtor: 2029037 Ontario Inc. (202 Ontario) · creditor: Bank of Montreal (BMO) · currency: CAD · security: 202 Ontario Loan Agreement (Mar 3, 2021, amended Apr 12, 2023): real estate facilities of max $2,000,000 and $6,384,179.02 (facility limits, not balances); GSA dated Jan 7, 2020; first charge on Commercial Road Property (principal $10,000,000 registered Apr 24, 2020 – registered principal, not balance); first charge on Claireport Crescent Property ($2,000,000 registered Apr 7, 2022); assignment of rents; guarantees from other Applicants and Shareholders.
- secured creditorsnote: Stated as 'approximately' plus accruing legal fees and disbursements. Pre-filing figure. · page: 64 · as of: 2025-02-05 · amount: 1573289.9 · debtor: 200 Edward Street Holdings Inc. (200 Edward) · creditor: Bank of Montreal (BMO) · currency: CAD · security: 200 Edward Loan Agreement (Apr 12, 2023): real estate facility max $1,632,000 (facility limit); GSA dated April 2023; first charge on Edward Street Property, principal $3,102,000 registered Apr 21, 2023 (registered principal, not balance); assignment of rents; cross-guarantees from other Applicants.
- secured creditorsnote: Stated as 'approximately' plus accruing legal fees and disbursements. Pre-filing figure. · page: 64 · as of: 2025-02-05 · amount: 1417513.78 · debtor: 90 Gaylord Road Holdings Inc. (90 Gaylord) · creditor: Bank of Montreal (BMO) · currency: CAD · security: 90 Gaylord Loan Agreement (Apr 12, 2023): real estate demand facility max $1,470,000 (facility limit); GSA dated April 2023; first charge on Gaylord Property, principal $3,102,000 registered Apr 21, 2023 (registered principal, not balance); assignment of rents; cross-guarantees from other Applicants.
- secured creditorsnote: No amounts stated on these pages. Registrations only; list continues beyond the pages provided. TD Equipment's rights regarding certain trailers were carved out of the stay (TD Possession Order of Justice Cavanagh, Mar 7, 2025). · page: 68 · debtor: WWC and various Applicants (260 Ontario, WWT&T, WWT, 202 Ontario) · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Registered financing statements over leased/financed trailers, trucks and motor vehicles: TD Equipment Finance Canada, Daimler Truck Financial, Mercedes-Benz Financial Services Canada Corporation, BMW Canada Inc., Royal Bank of Canada, Bank of Nova Scotia, Coast Capital Equipment Finance Ltd., Ford Credit Canada Leasing, Bodkin (Bennington Financial Corp.), among others.
- secured creditorsnote: USD portion of the BVD indebtedness stated alongside the CAD $3,662,178.09. · page: 68 · as of: 2025-02-12 · amount: 1070610.49 · debtor: World Wide Carriers Ltd. (WWC) / WWAF · creditor: BVD Capital Corporation · currency: USD · security: Same Master Factoring Agreement and receivables security as the CAD entry.
- secured creditorsnote: CAD amount stated with a separate USD $1,070,610.49 balance owed to BVD at the same date. Document states 'WWG is indebted to BVD'. BMO holds senior security over cash collateral and other property of WWC and WWAF. · page: 68 · as of: 2025-02-12 · amount: 3662178.09 · debtor: World Wide Carriers Ltd. (WWC) / WWAF · creditor: BVD Capital Corporation · currency: CAD · security: Master Factoring Agreement dated Mar 14, 2024 (amended July 14/16, 2024), purchase limit $10,000,000 (facility limit, not balance); guaranteed by WWAF (corporate) and personal guarantees from the Shareholders; senior security over present and future accounts receivable of WWC and WWAF per Priority and Postponement Agreement with BMO (July 16, 2024); PPSA registrations in Ontario and New Brunswick over receivables and approx. 200 motor vehicles.
- secured creditorsnote: Amount not stated. WWASG is an Additional Stay Party, not an Applicant. · page: 69 · debtor: World Wide ASG Logistics Inc. (WWASG) · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: General security interest registered in Ontario PPR in connection with WWASG's corporate guarantee of a loan BDC advanced to ASG Capital Ltd.