SNX Advance Logistics - Mississauga ON

I know someone who used to work there 6-7 years ago and even then, the guy wondered when the doors were going to shut. The company always hid behind a PO Box address. From what I understand, the owner had interests in different companies in unrelated industries.
 
What SNX has done is filed a Notice of Intent to Make a Proposal under the BIA Act. This is similar to what Schroeder Freight did. Unfortunately, the Notice file is too large to be uploaded here.
For unknown reasons, it appears that the Trustee created 2 lists of unsecured creditors, and I am not sure if the $2.6 million owed is the total of both lists, or just the first list.
There is also a debt of $750,000 re TD Bank. This will probably be a loan secured by the equity in the home (in his spouse's name).
 
I am faily certain that as an asset based carrier,you are able to go after the shipper for your money when a broker does not pay you .
 
When a freight broker defaults, carriers may persue payment from the shipper or benificial owner of the goods.
 
I think once a Trustee is assigned you are pooched from going after an outside party, I may be wrong maybe someone here knows for sure.
 
And what makes you think I dont know for sure lol :) O.K. everyone call your legal council, pretty sure ya can .
 
Perhaps the first step might be to make a claim against their surety bond if the freight shipped to or from the US. Like most things of a legal nature, you can always try. Whether or not you are successful can depend on a whole lot of factors, such as the terms of the Bill of Lading, your contract with the broker in default, the brokers relationship with the shipper, etc, etc.. It is my understanding that there is no definitive answer and that the courts in both Canada and the US have not been consistent one way or the other in their rulings on matter like this. But, feel free to try.
 
No, I am neither. Just a Canadian freight broker who has been plying my trade for the last 26 years. During that time, I have learned a few things and also gained some knowledge of situations similar to the one you described. Maybe the most important being, there are never any "slam dunks" when it comes to court decisions. Followed closely by, you can always learn something new, so keep an open mind.
 
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I ask gentle reader to be aware that THOSE SCRAMBLING from the SNX pool will be desperate. They may use a site such as this to dicourage you from contacting the customer directly so that they have a chance of establishing a relationship. If you shine light on the situation.. this might complicate the relationship for them. Speak to the shippers, tell them what has happened and exchange your unpaid bill for a direct relationship. WIN WIN
 
Maybe the most important thing is that we all should stay in our lanes. i have been asset for over 23 years.. ( iI dont care for or repect most brokers .... sorry ) If we dont know for sure.. say so. talk should not be cheap :) As I said before guys.. call your lawyers please OR PLAN B negotiate a
 
Sorry Loaders but they way most of the asset based folks see it.. if you are not a 3PL you are just some guy on a phone in your parents basement.. Maybe you ACTUALLY have assets. Sorry if you do:)
 
Hey flash1234. Not really sure when or where it was that I pissed you off. As you appear to be a new member to this site, I will cut you some slack and refrain from lowering myself to the level of your comments. After spending a bit more time on this site, hopefully you will learn that most of the members here, both asset based and 3pls, keep their comments courteous and respectful, even when we disagree. I am happy for you that you decided to be an asset based carrier, but that decision alone does not give you the right to assume you speak for all carriers in your small minded and incorrect opinion of freight brokers. By the way, welcome to Inside Transport, I am sure you will learn a lot!
 
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