Tyson Trucking Group Ltd. et al., a group of Brampton, Ontario-based trucking companies, were placed into receivership on August 26 on application by RBC, owed approximately $5.9 million.

RBC advanced a demand loan to the companies which was not repaid on demand or after a forbearance agreement was entered into. Further, the companies have defaulted on various obligations under the loan. As a result, RBC lost confidence in Tyson’s management to honour the companies’ commitments, including by making the necessary arrangements to repay RBC.

msi Spergel Inc. is the receiver.

Counsel is Gowling WLG for RBC.