Ontario · Receivership (court-appointed)
Motion Record of Receiver dated February 28 2025 - Volume 1 of 4
Application / notice of application · 28 February 2025
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 filing4 verified
- secured creditorsnote: Aggregated serialized-equipment financiers per PPSA Search Results (registration counts): Add Capital Corp. (2), Big Rig Trailers & Leasing Inc. (3), Bodkin/Concentra Bank/Equirex (Bennington Financial divisions) (5), BVD Equipment Finance Inc. (12), Daimler Truck Financial Services Canada/Mercedes-Benz Financial Services Canada (21), Flex-Cap Inc. (1), Meridian OneCap Credit Corp. (1), Mitsubishi HC Capital Canada Leasing Inc. (1), Paul Motor Leasing (3), R&S Trailer Leasing Ltd. o/a Breadner Trailers (5), Riordan Car and Truck Rentals Inc./Riordan Leasing Inc. (6), TFG Financial Corporation (2), Trac Lease Inc. and Affiliated Companies (1), Vault Credit Corporation (1). A separate undated Schedule 'B' creditor list also names these entities (plus England Carriers Services, Just Trux, Penske Truck Leasing Canada, Travelers Financial Corporation) with amounts 'Not determined'. · page: 35 · debtor: 8438048 Canada Inc. (AMG) · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: PPSA financing statements registered against specific vehicles (by VIN) for vehicle loans/equipment financing leases; approx. 109 unique VINs with registrations (some VINs with multiple registrants)
- secured creditorsnote: Stated as 'approximately' CAD$6,399,155 inclusive of accrued interest and costs, per Hamblin Affidavit sworn Nov 14, 2024. Also secured by personal guarantee of Narinder Shoker (director), dated July 28, 2023 (guarantor, not a separate secured creditor - individual). A separate 'Schedule B' creditor listing (undated) elsewhere in the record shows CWB's claim as $5,138,802.03 CAD, a different figure with no stated date. · page: 36 · as of: 2024-11-12 · amount: 6399155 · debtor: 8438048 Canada Inc. (AMG) · creditor: Canadian Western Bank · currency: CAD · security: General security agreement dated July 24, 2023 over all present and after-acquired property of AMG; security agreements over equipment and motor vehicles financed pursuant to equipment loans
- secured creditorsnote: USD-denominated component of the same Indebtedness described in the CAD entry above; stated as 'approximately' USD$515,958 inclusive of accrued interest and costs. · page: 36 · as of: 2024-11-12 · amount: 515958 · debtor: 8438048 Canada Inc. (AMG) · creditor: Canadian Western Bank · currency: USD · security: General security agreement dated July 24, 2023 over all present and after-acquired property of AMG; security agreements over equipment and motor vehicles financed pursuant to equipment loans
- secured creditorsnote: Elsewhere the First Report states Farm Credit Canada funded 147 Canada Inc.'s (a related entity) purchase of the Guelph Line Lot, with security/title registered in the name of 147 Canada Inc., not AMG - relationship of this claim to AMG (the Debtor) is unclear from the excerpted pages. · page: 260 · debtor: 8438048 Canada Inc. (AMG) · creditor: Farm Credit Canada · currency: CAD · security: Not stated in excerpts; listed as a secured creditor of AMG on undated Schedule 'B' with amount 'Not determined'