RBC Secures Receivership Order Over Essex Capital Entities
On November 25, 2025, Royal Bank of Canada ("RBC") obtained an order from the Ontario Superior Court of Justice appointing MNP Ltd. ("MNP") as receiver, without security, over the assets, undertakings and properties of Essex Capital Leasing Corp. and Essex Capital Transportation Leasing Corp. (together, the "Debtors"), commercial equipment-leasing companies based in Windsor, Ontario.
The order covers all property acquired for or used in relation to businesses carried on by the Debtors, and all proceeds thereof, under subsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. The order authorizes MNP to, among other things, take possession of the Debtors’ property and manage the Debtors' businesses, if any and as necessary.
Aird & Berlis acted as counsel to RBC with a team including Sanjeev Mitra and Cristian Delfino (Financial Services).
