British Columbia · Bankruptcy
Trustee's Preliminary Report to Creditors
Court officer report · 7 April 2026
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What we verified from this filing7 verified
- cash on handnote: TD account was overdrawn as at the Bankruptcy Date · as at: 2026-03-19 · amount: 0 · currency: CAD
- financial positionnote: Assets: Accounts Receivable - Unknown estimated realizable value; Equipment - Unknown estimated realizable value. Liabilities: Secured creditors $5,254,224.87; Preferred creditors, securities, and priorities $84,628.91; Unsecured creditors $7,435,714.89. Total liabilities per report table $12,774,568.67. Company reported accounts receivable of $60,000 and equipment estimated at approximately $3,701,000 based on Ritchie Bros estimates. SoA reports total unsecured creditors of $12,689,939.76 but Trustee notes the majority is ultimately expected to be secured or preferred (RBC amount inadvertently entered as unsecured). · as at: 2026-03-19 · basis: Statement of Affairs management estimate; unaudited books and records provided by Reliance, not verified by the Trustee · scope: entity - Reliance Logistics Inc. · currency: CAD · total liabilities: 12774568.67
- operational summaryReliance Logistics Inc., a trucking company, ceased operations upon deemed bankruptcy on March 19, 2026 after failing to file a proposal following its NOI filing; the Trustee found no realizable assets at the former business location and is now administering the wind-down, including assessing receivables and equipment subject to security interests.
- professional feesnote: Retainer of $25,000 provided for Trustee's professional fees has already been exceeded; NOI Proposal Trustee (MNP) owed approximately $30,000 and its counsel owed approximately $15,000, secured by a $50,000 NOI charge. · party: MNP Ltd. (Trustee) · amount: 25000 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: Therefore, we believe there will be no recovery for the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-04-07 · table missing:
- report date7 April 2026
- report noTrustee's Preliminary Report to Creditors