Ontario · Receivership (court-appointed)
Third Report of the Receiver dated March 3, 2026 Part 2 of 2
Court officer report · 3 March 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 filing7 verified
- operational summaryThe Receiver initially operated the Debtors' freight business on an interim basis while exploring a going-concern sale, but after determining the proposed buyer's offer was not viable, it wound down the business and is now realizing on the Property (trucks, trailers, and real estate) amid discovered fraudulent conduct by former management and related parties.
- process resultsbids: 5 · note: Auctioneer Solicitation Process: 11 auctioneers solicited, 5 proposals received by January 31, 2025 · as of: 2025-01-31 · solicited: 11
- purchaserprice: sealed: false · scope: the Coleraine Property · status: proposed · name note: purchaser of the Coleraine Property, unnamed · structure: real_property · name source: operative · relationship: unstated; price: note: Guaranteed Amount and First Threshold redacted due to commercial sensitivity · sealed: true · scope: the Debtors' and the Receiver's right, title and interest in and to the Property purchased by such respective Purchaser at the Auction · status: proposed · name note: end purchasers at the Auction, unnamed · structure: auction · name source: operative · relationship: unstated · agreement date: 2025-05-16
- report date27 May 2025
- report noFirst Report
- sale advisorMcDougall Auctioneers Ltd.; Avison Young Commercial Real Estate Services, LP; CBRE Limited
- sale outcometext: Vehicle Fleet auction and real property sale processes underway; Coleraine Property agreement subject to conditions and court approval · scope: whole_business · status: pending_approval