Alberta · Receivership (court-appointed)
Fifth Report of the Receiver (November 3, 2026)
Court officer report · 3 November 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 filing15 verified
- secured creditorsnote: Indebtedness amount not stated in this document. · page: 3 · debtor: Light Speed Logistics Inc. · creditor: National Bank of Canada (NBC) · currency: CAD · security: Equipment financed by NBC; Ernst & Young Inc. appointed receiver of that equipment on December 8, 2025.
- secured creditorsnote: Indebtedness amount not stated in this document. · page: 3 · debtor: Light Speed Logistics Inc. and Light Speed Holdings Inc. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: Equipment financed by BDC (LSL) and all current and future assets of Light Speed Holdings Inc.; MNP Ltd. appointed receiver on December 8, 2025.
- secured creditorsnote: Stated as 'approximately $28.7 million' indebtedness at the Receivership Date. Security reviewed by MLT Aikins and confirmed valid and enforceable subject to usual assumptions and qualifications. Approximately $3.73 million distributed to CIBC to date (Interim R&D shows $3,728,042). · page: 20 · as of: Receivership Date (December 5, 2025) · amount: 28700000 · debtor: Light Speed Logistics Inc. · creditor: Canadian Imperial Bank of Commerce (CIBC) · currency: CAD · security: General security over Property (accounts receivable, bank accounts, 92 specific trailers, plus 104 formerly leased tractors added by amendment). Described as first-ranking secured creditor.
- secured creditorsnote: Distributable amount is $11,447 (net proceeds), included in Proposed Lien Distribution. · page: 20 · amount: 24150 · debtor: Light Speed Logistics Inc. · creditor: C. Keay Investments Ltd. o/a Ocean Trailer (lien claimant) · currency: CAD · security: Lien claim admitted under the Lien Claims Process; limited to net proceeds of each unit.
- secured creditorsnote: Admitted claim figure is garbled in the document, so amount left null. Distributable amount is $62,482 (net proceeds), included in Proposed Lien Distribution. · page: 21 · debtor: Light Speed Logistics Inc. · creditor: New Millenium Tire Centre Alberta Ltd. (lien claimant) · currency: CAD · security: Lien claim admitted under the Lien Claims Process; limited to net proceeds of each unit. Admitted total printed as '$86,6473.58' (typographically garbled).
- secured creditorsnote: Holdback of $16,893 for an anticipated ADDITIONAL subrogated priority claim; $578,192 already paid as Service Canada priority distribution per Interim R&D. Statutory priority claim. · page: 21 · amount: 16893 · debtor: Light Speed Logistics Inc. · creditor: Service Canada (WEPP, s. 81.4 BIA) · currency: CAD · security: Subrogated priority claim under s. 81.4 of the BIA.
- secured creditorsnote: Deemed trust (priority) claim; amount is the holdback maintained against the proof of claim dated May 20, 2026. Allocation of payments toward the CRA priority claim is under discussion with the other receivers and secured creditors. · page: 21 · as of: 2026-05-20 · amount: 608796 · debtor: Light Speed Logistics Inc. · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Deemed trust for unpaid employee source withholdings.
- secured creditorsnote: DISALLOWED/disputed: Aberfoyle has until November 9, 2026 to file an application disputing the disallowance, failing which it is final. $33,661 is the amount currently held back in respect of the claim. · page: 21 · amount: 33661 · debtor: Light Speed Logistics Inc. · creditor: Aberfoyle Truck Centre Inc. (lien claimant) · currency: CAD · security: Lien claim disallowed in full.
- cash on handnote: Net cash balance held by the Receiver; the Interim R&D shows funds in trust of $994,676. · as at: 2026-11-02 · amount: 995000 · currency: CAD · qualifier: approximately
- disbursementsnote: Total disbursements per the Interim R&D for December 5, 2025 to November 2, 2026, including $3,728,042 distributed to the secured creditor (CIBC). · since: December 5, 2025 (Receivership Date) · amount: 6057326 · currency: CAD
- operational summaryThe Receiver is continuing to recover and realize rolling stock, collect accounts receivable from customers (managing set-off and carrier claims), administer the remaining lien claims, and support the trustee's bankruptcy examinations. It is seeking approval of a carrier claims process and further interim distributions.
- receipts cumulativenote: Total receipts per the Interim R&D for December 5, 2025 to November 2, 2026. The R&D shows two columns ($6,039,952 and $1,012,049) summing to $7,052,001; the column headings were not legible in the extracted text. · since: December 5, 2025 (Receivership Date) · amount: 7052001 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: (a) $11,447.11 to Ocean Trailer; and · pct of: unstated · outcome: distribution · stated by: receiver · amount low: 11447.11 · cumulative: false · amount high: 11447.11 · class label: Ocean Trailer · creditor name: Ocean Trailer · interim final: unstated · conditional on: subject to Court approval of the Proposed Lien Distribution · claims qualifier: unstated; basis: unstated · quote: (b) $62,482.10 to NMT. · pct of: unstated · outcome: distribution · stated by: receiver · amount low: 62482.1 · cumulative: false · amount high: 62482.1 · class label: NMT · creditor name: NMT · interim final: unstated · conditional on: subject to Court approval of the Proposed Lien Distribution · claims qualifier: unstated · stated on: 2026-11-02 · table missing:
- report date2 November 2026
- report noFifth Report