SHR Carrier and related Ontario trucking companies were placed into receivership May 23, with msi Spergel appointed receiver.
The related companies include Rite Choice Truck Sales, North Load Haulers, Fleet Fix Truck Centre and 2848644 ONTARIO Inc. The numbered company holds a commercial building in Mississauga, Ont.
RBC forced the proceedings, claiming it’s owed about $7 million by the companies, which didn’t meet conditions of a forbearance agreement reached in January.
“RBC has lost faith in the debtors’ management, and considers the only reasonable and prudent path forward is to take any and all steps necessary to protect the property by having a receiver appointed,” court documents read.
SHR was previously named North King Trucking and North Load Haulers previously went by Freight Linx Inc. and HBH Trucking Inc., court documents show.
RBC grew frustrated with “the lack of receipt from the debtors of timely, complete and evidence-supported answers to the information requests.”
The forbearance period was terminated when RBC said the debtors failed to comply with milestones set out in the agreement. RBC also noted SHR was declared “out of service” on the U.S. Federal Motor Carrier Safety Administration’s website, “prohibited from operating commercial motor vehicles in interstate commerce.”
