Sequel Freight Systems MC#072475
- Thread starter Shakey
- Start date
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Is there anyone can help me out to get in reach of them, as my payment is also stuck from last year
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see here, guys, This bastard has opened up a new company with our hard earned money. kapacity storage and distribution in Thorold ph # 905-667-8367..
Please leave some nice comments for his new company on Google so everyone should be aware of him before using him.
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Why do you wait for a year? At 45-60 days these should get escalated and by 90 days there definitely should be some forward movement with some 3rd party to move this along.
If you moved freight that originated from the US why are you not making a claim against their FMCSA bond? Now that it is a year you may not be able to make a valid claim. If you choose to attempt to claim you better hurry because the policy is expired and the expiry date will lapse soon.
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Don’t forget that there is a trust fund requirement in Ontario for brokered loads, You can sue the directors of the company personally if they do not hold funds in trust to pay the carrier. Kulbir is the only director of the Sequel freight system.
HTA 191.0.1 (3) A person who arranges with an operator to carry the goods of another person, for compensation and by commercial motor vehicle, shall hold any money received from the consignor or consignee of the goods in respect of the compensation owed to the operator in a trust account in trust for the operator until the money is paid to the operator. 2002, c. 18, Sched. P, s. 34.
Their new address is sort of brilliant, actually. HIgh security to get in means that anyone that wants to pop over and collect on a debt will not get in. I did see a Sequel truck pulling out of that address yesterday when I drove by.
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I cannot believe that info about Sequel's bankruptcy has not shown up on InsideTransport unless I missed it Sequel Creditor List
To clarify how the trust account works, if Sequel received money from its customers and did not pay the carriers prior to the date of bankruptcy August 26, 2024, and did not have a trust account, you have no chance of collecting through the Trustee In Bankruptcy. However, since the TIB is required by law to place all monies received after the date of bankruptcy into a trust account, case law determined that those monies collected are subject to Sec 191. According to the creditor list, some $245k was still o/s at the time of bankruptcy.
If you did business with Sequel since mid-July, please let me know. If sufficient response is received, I would consider heading up a multi-carrier action with the Trustee.
To clarify how the trust account works, if Sequel received money from its customers and did not pay the carriers prior to the date of bankruptcy August 26, 2024, and did not have a trust account, you have no chance of collecting through the Trustee In Bankruptcy. However, since the TIB is required by law to place all monies received after the date of bankruptcy into a trust account, case law determined that those monies collected are subject to Sec 191. According to the creditor list, some $245k was still o/s at the time of bankruptcy.
If you did business with Sequel since mid-July, please let me know. If sufficient response is received, I would consider heading up a multi-carrier action with the Trustee.
I don't think they will ever receive the money. My theory is that they kept the company alive long enough to convince their customers to start paying their new company and any remaining invoices. Once that happened, they filed for bankruptcy, that's my theory. You should probably involve the reps that brokered the freight out in the lawsuit. The took the money and ran!!!
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I have never heard of this TIB before, but considering they make a % of what they collect, it should be interesting if the Sequel customer says they were instructed to pay someone else.
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I have pending payment from Sequel from last year 29 nov 2023 for $4400cad, can you help me get that paid ?
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For those of you seeking a refund from Sequel, please send an email to the address below and ensure that you provide all the requested documents. Once submitted, we can only hope for the best. Fingers crossed that we will successfully recover our funds.
Please find attached a Notice of Bankruptcy for Sequel Freight System.
Kindly complete the proof of claim form which is included in the package and return the signed form to us with documentation (invoice/statement etc) of the amount you are claiming.
Regards,
Sheila Potts
Administrative Assistant
Crowe Soberman Inc.
Licensed Insolvency Trustee
2 St Clair Avenue East, Suite 1100
Toronto, Ontario, M4T 2T5
+1 416 644 4287 Direct
+1 416 929 2555 Fax
sheila.potts@crowesoberman.com
crowe.com/ca/crowesoberman
Please find attached a Notice of Bankruptcy for Sequel Freight System.
Kindly complete the proof of claim form which is included in the package and return the signed form to us with documentation (invoice/statement etc) of the amount you are claiming.
Regards,
Sheila Potts
Administrative Assistant
Crowe Soberman Inc.
Licensed Insolvency Trustee
2 St Clair Avenue East, Suite 1100
Toronto, Ontario, M4T 2T5
+1 416 644 4287 Direct
+1 416 929 2555 Fax
sheila.potts@crowesoberman.com
crowe.com/ca/crowesoberman
For those searching for bankruptcy information you can find it here:
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You should have received an e-mail from the insolvency trustee with a form to fill-in with proofs like rate con and BOL/POD. That's it. What's happening is that the e-mail chain is being polluted with side discussions about Sequel and other insolvent brokers so it's becoming annoying and misleading.