RBC Obtains Receivership and Interim Receivership Over Panjaab Transport
On October 9, 2025, the Ontario Superior Court of Justice (Commercial List) appointed msi Spergel Inc. as receiver over the assets, undertakings and properties of Panjaab Transport and 2747826 Ontario Inc., trucking and logistics businesses operating in Oakville, Ont., pursuant to s. 101 of the Courts of Justice Act and s. 243 of the Bankruptcy and Insolvency Act.
The appointment followed a three-week interim receivership obtained on application by the Royal Bank of Canada (“RBC”). Given the debtors’ lack of transparency, ongoing cash diversions and absence of viable refinancing, the court concluded that a full receivership was just and convenient.
Aird & Berlis acted as counsel to RBC on both applications with a team consisting of Sanjeev Mitra, Shaun Parsons and Samantha Hans (Financial Services).
