Ontario · NOI
Supplement to the Seventh Report dated October 31, 2026
Court officer report · 31 October 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 filing11 verified
- unsecured creditorsnote: Amount not stated. Union cites history of outstanding obligations under the Collective Agreement; DIP Loan said to be used to bring current certain post-filing obligations owing to the Union. · page: 12 · basis: Outstanding obligations under the Collective Agreement; post-filing obligations to the Union are unpaid · debtor: National Traffic Safety Management Inc. · creditor: Labourers' International Union of North America, Local 837 (and LiUNA Locals 183 and 506) · currency: CAD
- secured creditorsnote: Balance not stated in these pages. Oxygen supports the Ramudden transaction and will not subordinate its security to the proposed DIP Charge. Forecast shows post-filing factoring advances and repayments only, not a pre-filing balance. · page: 13 · debtor: National Traffic Safety Management Inc. · creditor: Oxygen Working Capital Corp. · currency: CAD · security: Described as the Company's senior secured creditor; operates an accounts receivable factoring facility lending 85% of post-filing receivables (Cash Flow Forecast note 3) and holds a Term Loan on which it applies interest (note 10); Oxygen charge ranks ahead of the proposed DIP Charge
- unsecured creditorsnote: Post-filing exposure described as involuntary unsecured financing by creditors. Amount not stated. Includes HST forecast payments, but no indebtedness figure given. · page: 15 · basis: Named only as a creditor accruing additional post-filing exposure; no amount stated · debtor: National Traffic Safety Management Inc. · creditor: Canada Revenue Agency (CRA) · currency: CAD
- unsecured creditorsnote: The approximately $30,000 is the monthly lease payment being deferred, not a total balance owing. · page: 19 · basis: Vehicle lessor; forecast assumes deferral of monthly lease payments (approximately $30,000) pending repayment in full from refinancing proceeds · amount: 30000 · debtor: National Traffic Safety Management Inc. · creditor: Emkay Canada Inc. · currency: CAD
- operational summaryThe Company continues to operate under a holding proposal filed October 26, 2026 while its sole director, whose related entity A2 lost the sale process, pushes an Amended Proposal backed by a $500,000 DIP loan from COR instead of the court-recommended Ramudden sale. The Proposal Trustee reports certain post-filing obligations to professionals and trade creditors remain unpaid and doubts the COR financing will actually be available.
- process resultsbids: 2 · note: offers received from Ramudden and A2; A2 later submitted an amended offer · as of: 2026-10-16
- purchaserRamudden
- report date31 October 2026
- report noFirst Supplement to the Seventh Report of the Proposal Trustee
- sale outcometext: Proposal Trustee selected the Ramudden transaction as most favourable and seeks its approval; the Company opposes and has filed an Amended Proposal under which A2 would acquire 100% of the equity; hearing set for November 2, 2026. · scope: whole_business · status: bid_selected
- stalking horseA2 Environmental Group Inc.