July 2, 2018

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Company Counsel: Swanick & Associates

Trustee: MNP

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Messenger Freight Systems, a St. Thomas, Ontario-based transportation and logistics company that provides warehousing and storage services, filed an NOI on July 2, listing $13.7MM in liabilities, including $8.1MM to BNS. The company attributes its financial difficulties to several factors. First, in 2017, the company was negatively impacted by a six-week strike by the unionized staff at General Motors' CAMI plant. Second, one of the company's larger customers experienced a slowdown in service, which resulted in reduced work for Messenger drivers and led many to leave the company. Finally, given the size of the company's business, its cost structure is too high. MNP is the proposal trustee. Counsel is Swanick & Associates for the company and Harrison Pensa for BNS.