Ontario · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 29 November 2024
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
- financial positionnote: No total assets or total liabilities are stated by the Receiver. Indebtedness to CWB is stated as of August 26, 2024: CMF approximately $5.9 million and 256 $15.6 million (cross-guaranteed). The Receiver says the books and records needed to ascertain receivables, payables and fleet acquisitions/dispositions remain outstanding, so the position cannot currently be stated. · basis: No balance sheet or statement of affairs; the report relies on 'unaudited, draft and/or internal financial information' and says it has 'not audited or otherwise verified' the Information. Management's records are incomplete and the Receiver says it lacks access to most books and records. · scope: CMF and 2568403 Ontario Inc. (the Debtors) · currency: CAD
- operational summaryCMF has ceased operations since the receivership; its employees were terminated, and the Receiver is struggling to take possession of books and records and of fleet assets held at a third-party yard.
- report date29 November 2024
- report noFirst Report of the Receiver