Ontario · Receivership (court-appointed)
Application Record Appointment of an Interim Receiver
Application / notice of application · 9 October 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 filing5 verified
- secured creditorsnote: Notice dated September 17, 2024 referenced as Exhibit N; amount of claim not stated in extracted pages · page: 8 · as of: 2024-09-17 · debtor: Canadian Motor Freight Ltd. · creditor: Meridian OneCap Credit Corp. · currency: CAD · security: PPSA registration; served Notice pursuant to section 63(4) of the PPSA
- secured creditorsnote: Amount is the registered charge amount per pleadings; not confirmed as outstanding balance · page: 16 · amount: 950000 · debtor: 2568403 Ontario Inc. · creditor: Khawar Masood and Gulfam Sajjil · currency: CAD · security: Second Charge/Mortgage registered on title to 400 Brunel Road, Mississauga
- secured creditorsnote: Numerous PPSA registrants named in service list (e.g., ATB Financial, De Lage Landen, Mercedes-Benz Financial, TFG Financial, Meridian OneCap Credit Corp, TPine Leasing, CWB National Leasing, Daimler Truck Financial, Mitsubishi HC Capital, LBEL Inc., CLE Capital, Coast Capital Equipment, Vault Credit, Sonoma Capital, Bodkin/Bennington Financial, Stoughton Trailers, VFS Canada, Dynamic Civil Recovery, Rev Capital, Reefer Sales & Service); amounts not stated in these pages · page: 16 · debtor: Canadian Motor Freight Ltd. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Financing statements registered under the Personal Property Security Act (Ontario) claiming security interests in equipment and other assets
- secured creditorsnote: Tax certificate dated August 9, 2024 shows arrears for 2023 and 2024 totalling this amount · page: 16 · as of: 2024-08-09 · amount: 107229.4 · debtor: 2568403 Ontario Inc. · creditor: City of Mississauga · currency: CAD · security: Statutory municipal property tax arrears/lien on 400 Brunel Road, Mississauga
- secured creditorsnote: Floor amount only ('The Debtors owe in excess of $21 million to the Applicant under the Commitment Letters'); also secured by Limited Liability Guarantees of personal guarantors Imran Hussain, Satbir Singh Kahlon and Sukhdeep Singh Arora (directors), each limited to $3,000,000 (personal guarantees - names for reference only) · page: 17 · amount: 21000000 · debtor: Canadian Motor Freight Ltd. and 2568403 Ontario Inc. (jointly, under Commitment Letters) · creditor: Canadian Western Bank (CWB) · currency: CAD · security: General Security Agreements (CMF GSA and 256 GSA); Charge/Mortgage of $17,500,000 on 400 Brunel Road, Mississauga (registered principal, not a balance); cross Full Liability Guarantees between CMF and 256; facility limits: Operating Loan $5,000,000, Equipment Loan (revolving master-line) $3,000,000, Business Credit Card $250,000, 256 Loan (non-revolving) $15,750,000