Ontario · NOI
Motion Record of NTSM returnable November 2, 2026
Application / notice of application · 29 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 filing9 verified
- unsecured creditorsnote: Post-filing amount (not a pre-filing claim). A payment plan for post-filing pension remittance arrears was agreed with Local 837 by Minutes of Settlement dated July 29, 2026; the DIP loan is to fund bringing these current. · page: 78 · basis: Approximate amount owing to the Union for post-filing vacation pay and pension arrears (footnote, Oct 29 affidavit) · amount: 385000 · debtor: National Traffic Safety Management Inc. · creditor: Labourers' International Union of North America (Locals 183, 506, 837) – post-filing vacation pay and pension arrears · currency: CAD
- secured creditorsnote: Charge ceiling, not a balance: the Oct 29 affidavit states a maximum of $300,000; the Oct 26 affidavit refers to $50,000 increased to $80,000. Unpaid amounts secured are not stated. · page: 79 · debtor: National Traffic Safety Management Inc. · creditor: Administration Charge (Proposal Trustee and professionals) · currency: CAD · security: Court-ordered Administration Charge (Order of Justice Black dated June 3, 2026, as increased by Orders dated June 15, 2026, October 13, 2026 and October 26, 2026); ranks ahead of the DIP Charge
- secured creditorsnote: Approximate amount owing under the term loan as of Oct 27, 2026 (Affidavit Oct 29), including legal fees and disbursements. Term loan reduced from ~$834,000 to ~$594,000 since commencement of proceedings per the Oct 26 affidavit. The Sept 4, 2026 A2 commitment letter showed a payout of $718,448 (a different, earlier estimate tied to the A2 sale). · page: 79 · as of: 2026-10-27 · amount: 657000 · debtor: National Traffic Safety Management Inc. · creditor: Oxygen Working Capital Corp. · currency: CAD · security: Term loan agreement and accounts receivable factoring agreement (loan agreement dated April 28, 2025; Amended Proposal cites term loan agreement dated January 13, 2025); ranks ahead of J9 and RBC, which subordinated; Oxygen would not agree to be primed except for the administration charge
- unsecured creditorsnote: Regulatory/Crown claim; to be paid per payment terms to be agreed with CRA. The Sept 4, 2026 commitment letter showed HST outstanding of $175,000 (earlier figure tied to the A2 sale). · page: 79 · basis: Approximate amount owing for post-filing HST arrears per Affidavit sworn October 29, 2026 · amount: 331000 · debtor: National Traffic Safety Management Inc. · creditor: Canada Revenue Agency (post-filing HST arrears) · currency: CAD
- unsecured creditorsnote: Plus any post-filing amounts that remain outstanding. Pre-filing pension and vacation pay would be paid in full, not merely the priority amount under BIA s. 60(1.3). Preferred/priority character of part of the claim is referenced but a split is not stated. · page: 79 · basis: Approximate amount per Affidavit of Antonio Bruno sworn October 29, 2026; to be paid in full in cash under the Amended Proposal · amount: 310048 · debtor: National Traffic Safety Management Inc. · creditor: Labourers' International Union of North America (Locals 183, 506, 837) – pre-filing vacation pay and pension arrears · currency: CAD
- secured creditorsnote: Estimated; deemed-trust class (Crown priority) source deductions accruing post-filing, to be paid in full before Court approval of the proposal as required by the BIA. · page: 94 · amount: 95000 · debtor: National Traffic Safety Management Inc. · creditor: Canada Revenue Agency (post-filing source deductions) · currency: CAD
- secured creditorsnote: Balance not stated; to continue to be paid per existing payment terms. · page: 94 · debtor: National Traffic Safety Management Inc. · creditor: Royal Bank of Canada · currency: CAD · security: Perfected general security agreement over all property and assets securing a HASCAP loan; subordinated to Oxygen
- secured creditorsnote: $100,000 is the maximum amount secured by the court-ordered charge, as per the proposed payout under the Amended Proposal; it is a charge ceiling, not a stated outstanding balance. Under the Initial Proposal J9 also held a Class 2 secured claim as part of a $750,000 aggregate with Betty Copeland and 1555207 Ontario Inc., exchanged for preferred shares/equity. · page: 94 · amount: 100000 · debtor: National Traffic Safety Management Inc. · creditor: J9 Investments Ltd. · currency: CAD · security: Court-ordered interim-financing charge on all property and assets (Order of Justice Cavanagh dated April 16, 2024); subordinated to Oxygen
- secured creditorsnote: $550,000 incl. HST is the agreed fleet-buyout price under the Amended Proposal, not an outstanding debt balance. The Sept 4, 2026 commitment letter showed lease buyouts of $623,000 and lease payments owing of $143,559 (earlier A2 transaction figures). · page: 94 · amount: 550000 · debtor: National Traffic Safety Management Inc. · creditor: Emkay Canada Leasing Corp. · currency: CAD · security: Lessor of vehicles under Emkay Vehicle Lease Agreement dated January 21, 2021 (true lease; Emkay owns the vehicles)