British Columbia · Bankruptcy
Proposal Trustee's First Report to the Court
Court officer report · 28 January 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 filing11 verified
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file noVLC-S-B-260033
- appointeeMNP Ltd.
- appointee roleTrustee
- commencement date2 January 2026
- statutory basissubsection 50.4(1) of the Bankruptcy and Insolvency Act
- financial positionnote: Balance sheet as of December 31, 2025 shows Total Current Assets $1,835,834, Total Non-Current Assets $7,290,085, Total Assets $9,125,919; Total Current Liabilities $9,894,961, Total Non-Current Liabilities $6,412,447, Total Liabilities $16,307,408. · page: 6 · as at: 2025-12-31 · basis: unaudited financial information provided by Company/Management, not audited or reviewed by the Proposal Trustee · scope: entity-level - Reliance Logistics Inc. · currency: CAD · total assets: 9125919 · total liabilities: 16307408
- secured creditorsnote: Balance sheet lists 'Operating line of creditor - RBC' at $1,700,000; matches prose approximation of '$1.7 million'. RBC proposed to rank first in priority ahead of Administration Charge. · page: 6 · as of: 2025-12-31 · amount: 1700000 · debtor: Reliance Logistics Inc. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General security agreement over all assets of the Company
- secured creditorsnote: Listed by Proposal Trustee among 'current priority and secured creditors'; prose in report approximates this as '$3,000,000'; balance sheet states exact figure 'Employee source deductions payable' $3,759,512 as at Dec 31, 2025; deemed trust class. CRA also issued requirement-to-pay notices (RTPs) to customers on Dec 4, 2025, since cancelled. · page: 6 · as of: 2025-12-31 · amount: 3759512 · debtor: Reliance Logistics Inc. · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Deemed trust claim for employee source deductions
- secured creditorsnote: Document states amounts owed to BMO, Tpine and other lessors are 'to a lesser extent' but does not quantify; aggregated as PMSI equipment financiers class per serialized-equipment financing. · page: 7 · debtor: Reliance Logistics Inc. · creditor: PPSA equipment financiers (PMSI class) - Bank of Montreal Transportation Finance (BMO), Tpine Leasing Capital Corporation, and other lessors · currency: CAD · security: Equipment/leased asset financing (trucks, trailers) - amounts owed 'to a lesser extent'
- secured creditorsnote: Amount stated only as approximate ('approximately $3,000,000') in prose; no exact dated balance provided. Included within 'Obligations under capital lease' on balance sheet, not separately broken out. · page: 7 · as of: NOI filing date · amount: 3000000 · debtor: Reliance Logistics Inc. · creditor: Daimler Truck Financial Services Canada Corporation · currency: CAD · security: Equipment financing over trucks/trailers (primary financier of fleet)