Ontario · Receivership (court-appointed)
Report of the Interim Receiver dated October 8, 2025
Court officer report · 8 October 2025
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What we verified from this filing3 verified
- secured creditorsnote: 'Lease Due' total per Interim Receiver's chart of leased vehicles/status; a separate 'Total Due' (arrears) of $338,599.35 was payable to these leasing companies on September 30, 2025 (per para. 32), and it is unknown whether this payment was made. Stride Capital and Canadian Equipment Finance & Leasing Inc. have commenced actions against Panjaab for recovery of their collateral. · page: 17 · amount: 2439126.77 · debtor: 8777691 Canada Inc. (Panjaab Transport) · creditor: PPSA equipment/lease financiers (PMSI class) — CEFL, TFG Financial, DLL, Auxilior, Moneda Capital Corp, Coast Capital, CWB/Accurate Leasing, Mitsubishi HC Capital Canada Leasing, Stride Capital, Sonoma, Daimler Truck Financial · currency: CAD · security: PPSA/lease registrations against serialized vehicle fleet (trucks/trailers); leasing status per creditor ranges from 'agree' to 'not agreed/disagree' on surrender
- secured creditorsnote: Floor amount — endorsement states the bank 'claims more than $11 million in the aggregate' following demand and s.244 BIA notices; more than the minimum 10-day notice period had run as of the hearing date. · page: 35 · as of: 2025-09-19 · amount: 11000000 · debtor: 8777691 Canada Inc. and 2747826 Ontario Inc. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: Debt and security facilities (general security/demand facilities); s.244 BIA notices sent
- secured creditorsnote: Related party — sole director of Jimmy Truckline Inc. is Ramandeep Kaur, sister-in-law of Sunny (director of the Debtors). Sunny advised he caused these RSLA liens to be registered through a related company specifically to block other creditors/leasing companies from enforcing their rights; the Court's endorsement described this as 'a sudden assertion of liens under the RSLA for as much as $750,000 (approximately)' and noted that, if real, they would represent a real erosion of the bank's position — legitimacy of the claim is disputed/questioned by the Interim Receiver and the Court. · page: 35 · as of: 2025-09-19 · amount: 750000 · debtor: 8777691 Canada Inc. (Panjaab Transport) · creditor: Jimmy Truckline Inc. (RSLA lien registrant) · currency: CAD · security: RSLA (Repair and Storage Liens Act) registrations against individual serialized vehicles; per PPSA search dated September 16, 2025 individual registration amounts range from approximately $82,000 to $140,000 per vehicle (see chart, page 18)