Manitoba · Receivership (court-appointed)
Affidavit of Mudasar Ahmad
Affidavit · 13 January 2026
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What we verified from this filing4 verified
- courtTHE KING'S BENCH
- court file noCI 26-01-55408
- secured creditorsnote: Aggregate 'Indebtedness' of $493,976.68 as at Jan 6, 2026 comprises: Demand Facility 6330/5382604 $433,873.64; VISA Credit Card ****0655 $23,279.33; Forbearance Fee (outstanding portion) $12,500.00; Legal Fees $21,823.71. An earlier exact balance of $573,132.47 (Operating Line $563,102.57 + VISA $10,029.90) was stated as at October 27, 2025 in the Forbearance Agreement; reduced by a $100,000 payment made under the Forbearance Agreement in November 2025. Forbearance Agreement terminated effective January 12, 2026. · page: 4 · as of: 2026-01-06 · amount: 493976.68 · debtor: Custom Transport Ltd. · creditor: Toronto-Dominion Bank · currency: CAD · security: General Security Agreement dated December 11, 2024 over all present and after-acquired personal property of Custom Transport Ltd. (PPSA registration No. 202421608506, registered 2024-12-11); TD also holds PPSA registration No. 202421608905 (2024-12-11) over all indebtedness/liabilities owing by 10209490 Manitoba Ltd. to Custom Transport (assigned receivable/cross-guarantee collateral); supported by Unlimited Guarantee of Advances from 10209490 Manitoba Ltd. and personal Unlimited Guarantee of Advances from Kulwinder Singh Chahal (individual guarantor - personal guarantee, related party as sole director/officer of Borrower).
- secured creditorsnote: Custom Transport's own equipment list (Exhibit F), provided June 2025 and showing amounts owing on financed vehicles 'as of March 2025', lists per-vehicle figures for BVD- and CWB-financed trailers/power units, with summary totals of $2,091,808.09 and $1,552,890.14 shown at the foot of the schedule (column labels not identified in the source document; likely original financed amount and current balance, respectively, but this is not certain). Individual per-vehicle amounts are not summed here per reporting rules; GM Financial's security (Cadillac Escalade) is not addressed in this equipment list. · page: 5 · as of: as of March 2025 (per equipment list, Exhibit F) · debtor: Custom Transport Ltd. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Serial-numbered equipment (trailers, reefer units, power units, one vehicle) under PPSA registrations: BVD Equipment Finance Inc. (Reg. Nos. 202204000109 dated 2022-03-16, 202207757804 dated 2022-05-12, and 202215669302 dated 2022-09-16); CWB National Leasing Inc. (Reg. Nos. 202412320303 dated 2024-07-17 and 202413658600 dated 2024-08-07, both stated as Purchase Money Security Interests); General Motors Financial of Canada, Ltd. (Reg. No. 202421238407 dated 2024-12-05, 2024 Cadillac Escalade).