Ontario · Receivership (court-appointed)
First Report to Court dated February 13, 2018
Court officer report · 13 February 2018
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What we verified from this filing4 verified
- secured creditorsnote: Several lessor security interests (e.g. re-registrations of previously discharged filings for three specific vehicles) found subordinate/unperfected against RBC's prior general blanket registration under PPSA s.30(6); two lessor interests (2016 Freightliner VIN ...GY9616 and 2018 Freightliner VIN ...D9934) found validly perfected and prior in priority as against those specific vehicles · page: 5 · debtor: 2399295 Ontario Inc. o/a Fast Track Alliance · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Dozens of motor vehicle registrations under the PPSA by lessors (e.g. Daimler/CLE, Somerville National Leasing & Rentals, Mercado, Bodkin, TPine, Element, Travelers, Riordan) against specific vehicles/trailers
- secured creditorsnote: Disputed claim: Receiver disputes quantum, contending maximum entitlement is $25,622.97 (using $60/day reasonable storage rate rather than TTC's claimed $150/day); TTC Invoices largely unsigned for storage portion · page: 12 · as of: 2018-02-12 · amount: 37826.97 · debtor: 2399295 Ontario Inc. o/a Fast Track Alliance · creditor: 2100331 Ontario Inc. o/a TTC & Mobile Truck Trailer Repair (TTC) · currency: CAD · security: Possessory repairer's and storage lien claimed under the Repair and Storage Liens Act (RSLA) over three vehicles
- secured creditorsnote: Amount includes legal expenses billed to Feb 9, 2018, plus further amounts for continued accrual of interest and recovery expenses; Receiver's counsel opined security is validly perfected and enforceable · page: 14 · as of: 2018-02-09 · amount: 1592172.41 · debtor: 2399295 Ontario Inc. o/a Fast Track Alliance · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General security agreement dated June 15, 2017, granted in connection with a letter credit agreement dated June 9, 2017; general blanket PPSA registration (728608968) registered June 9, 2017
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 276.78 · quote: This represents a total of 114.34 hours at an average rate of $276.78 per hour. · currency: · invoices: · firm text: MSI Spergel Inc. · firm quote: REPORT OF MSI SPERGEL INC. IN ITS CAPACITY AS THE COURT-APPOINTED RECEIVER OF 2399295 ONTARIO INC. o/a FAST TRACK ALLIANCE · hours total: quote: This represents a total of 114.34 hours at an average rate of $276.78 per hour. · value: 114.34 · context quote: IN ITS CAPACITY AS THE COURT-APPOINTED RECEIVER; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 407.94 · quote: The average hourly rate of Aird & Berlis LLP is $407.94. · currency: · invoices: · firm text: Aird & Berlis LLP · firm quote: The average hourly rate of Aird & Berlis LLP is $407.94. · context quote: The average hourly rate of Aird & Berlis LLP is $407.94.