Ontario · Receivership (court-appointed)
Application Record of Royal Bank of Canada dated November 14, 2024 - Part 6
Application / notice of application · 14 November 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 filing3 verified
- secured creditorsnote: D+H Limited Partnership appears in the combined 'Registering Agent or Secured Party/Lien Claimant' field; the underlying actual secured party (e.g., equipment lessor/lender) is not separately identified on these pages. Several change statements register partial discharges ('PART DISCH') of specific collateral items under this file (2022-01-26, 2022-10-27, 2022-12-13). The PPSA enquiry response states 141 total registrations against the debtor, but only file 762671574's registration/collateral details appear on the excerpted pages; the remaining ~140 registrations are listed only by file/registration number with no secured-party or amount detail included here. · page: 1 · as of: 2024-11-05 · debtor: J&R Transport Inc. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Ontario PPSA registrations under file no. 762671574 (initial registration 2020-06-15/17, with subsequent change statements 2022 and 2023) covering serialized motor vehicle/equipment collateral (2016-2017 reefer trailers, VINs including RAR91439588, RAT91449105, RAT91449075, and related trailer VINs), registered by D+H Limited Partnership as registering agent/secured party of record. No dollar amount, maturity or registration ceiling is stated on the face of these registrations.
- secured creditorsnote: Demand letter (Notice of Intention to Enforce Security accompanying) 'Specified Indebtedness' CDN figure = revolving demand facility $2,109,435.61 + HSBC Leasing Schedule 35606001 $668,448.43 + HSBC Leasing Schedule 35606002 $1,331,271.56 + Mastercard facility $1,460.10; same CDN figure also appears in the s.244(1) BIA Notice of Intention to Enforce Security as part of total secured indebtedness. RBC also holds a limited personal guarantee (guarantee and postponement of claim, dated June 1, 2023) from individual guarantor Jalwinder Brar in the amount of $1,950,000.00 (see demand letter to guarantor) — guarantor is an individual, not a corporate creditor. · page: 21 · as of: 2024-10-16 · amount: 4110615.7 · debtor: J&R Transport Inc. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General security agreement dated June 1, 2023 granted by the Debtor in favour of RBC over all of the Debtor's property, assets and undertakings; also secures revolving demand facility, HSBC Leasing Schedules 35606001/35606002, and Mastercard facility
- secured creditorsnote: Figure taken from BIA s.244(1) Notice of Intention to Enforce Security, which states this as the 'total amount of the indebtedness secured by the Security', explicitly including the 'Additional Leases' (leasing facilities with no monetary default currently outstanding). The narrower amount formally demanded immediately in the RBC demand letter ('Specified Indebtedness', excluding Additional Leases) is USD $2,720,218.82, comprising nine Primary Leasing Schedule leases (201000075263, 201000075667, 201000075881, 201000081269, 201000081976, 201000076107, 201000081382, 201000080735, 201000082114) totalling $2,595,886.04 plus Visa card facility $124,332.78. · page: 23 · as of: 2024-10-16 · amount: 2933447.99 · debtor: J&R Transport Inc. · creditor: Royal Bank of Canada (RBC) · currency: USD · security: General security agreement dated June 1, 2023 granted by the Debtor in favour of RBC over all of the Debtor's property, assets and undertakings; also secures Primary Leasing Schedules (multiple) and Visa card facility