Ontario · NOI
Motion Record of Oxygen Working Capital returnable November 2, 2026
Application / notice of application · 30 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 filing6 verified
- secured creditorsnote: No outstanding balance is stated on these pages. The $800,000 is the principal advanced, and CAD$900,000 is the credit limit; neither is a balance. Demand and a BIA s. 244 notice were made April 15, 2026 for indebtedness 'then due' under the Term Loan (amount not stated). The factoring Purchase Limit appears in a Schedule B not included in these pages; the Commitment Fee wording implies roughly 1% = CAD$15,000, but that is an inference, not a stated limit. Forbearance Agreement dated June 12, 2026 was terminated by Oxygen on October 27, 2026 for defaults. · page: 7 · debtor: National Traffic Safety Management Inc. · creditor: Oxygen Working Capital Corp. · currency: CAD · security: General security agreement dated April 28, 2025 over all present and after-acquired personal property, perfected by PPSA (Ontario) registration. Facilities: Term Loan (advance principal $800,000; credit limit CAD$900,000, interest Prime plus 16.00% per month, matured on demand or April 28, 2026) and Master Factoring Agreement dated April 28, 2025 (Factoring Facility). Collateral security also required from guarantors: J9 Developments Inc., Niagara Truck Certification & Repair Inc., J9 Holdings Ltd., 2563951 Ontario Inc. (guarantees; GSAs from J9 Developments and Niagara Truck; share pledges from J9 Holdings and 2563951 Ontario Inc.), and personal guarantees of CAD$50,000 each from two individuals.
- secured creditorsnote: Listed as a Permitted Encumbrance in the April 28, 2025 Loan Agreement Creditor Table. Amount not stated. Oxygen's closing deliverables required a postponement, subordination and standstill agreement from this party. · page: 28 · debtor: National Traffic Safety Management Inc. · creditor: Betty Copeland · currency: CAD · security: PPSA File Reference No. 792421092; collateral classifications Inventory, Equipment, Accounts, Other and Motor Vehicle Included
- secured creditorsnote: Listed as a Permitted Encumbrance in the April 28, 2025 Loan Agreement Creditor Table. Amount not stated. Oxygen's GSA is described as first ranking subject only to Permitted Encumbrances; no postponement agreement from this party appears among the listed deliverables (the deliverables list J9 Developments, RBC, Betty Copeland and 1555207 Ontario Inc.). · page: 28 · debtor: National Traffic Safety Management Inc. · creditor: J9 Investments Ltd. · currency: CAD · security: PPSA File Reference No. 764005464; collateral classifications Inventory, Equipment, Accounts, Other and Motor Vehicle Included
- secured creditorsnote: Listed as a Permitted Encumbrance in the April 28, 2025 Loan Agreement Creditor Table. Amount not stated. Oxygen's closing deliverables required a postponement, subordination and standstill agreement from RBC. · page: 28 · debtor: National Traffic Safety Management Inc. · creditor: Royal Bank of Canada · currency: CAD · security: PPSA File Reference No. 772282242; collateral classifications Inventory, Equipment, Accounts, Other and Motor Vehicle Included
- secured creditorsnote: Listed as a Permitted Encumbrance in the April 28, 2025 Loan Agreement Creditor Table. Amount not stated. Oxygen's closing deliverables required a postponement, subordination and standstill agreement from this party. · page: 28 · debtor: National Traffic Safety Management Inc. · creditor: 1555207 Ontario Inc. · currency: CAD · security: PPSA File Reference No. 780229431; collateral classifications Inventory, Equipment, Accounts, Other and Motor Vehicle Included
- recovery outcomeentries: basis: plan · quote: The Proven Claims of Preferred Creditors, if any, are to be paid in full, without interest, from the Unsecured Creditor Fund, in priority to all Claims of ordinary 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: Proven Claims of Preferred Creditors, if any; paid without interest from the Unsecured Creditor Fund; the Company is currently unaware of any Preferred Creditor claims · claims qualifier: unstated; basis: plan · quote: The Debtor shall pay to the Trustee the Unsecured Creditor Fund in the amount of $400,000 on the Implementation Date. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · amount low: 400000 · amount high: 400000 · class label: Unsecured Creditors with Proven Claims (pro-rata share of remaining Unsecured Creditor Fund) · interim final: unstated · conditional on: $400,000 Unsecured Creditor Fund paid to the Trustee on the Implementation Date; pro-rata share of the remaining fund after preferred claims and convenience-class elections · claims qualifier: unstated · table missing: