New Concept Quality Doors Ltd.
- Proceeding
- Receivership (court-appointed)Subsections 245(1) and 246(1) of the Act
New Concept Quality Doors Ltd. is in court-appointed receivership under BIA s. 243 and provincial Judicature Act provisions, with Baron Finance Incorporated as the secured creditor whose General Security Agreement of April 26, 2016 underlies the appointment. As of September 15, 2017, Baron's claim comprised a loan of $316,862.68, a Canadian-dollar factoring facility of $149,034.83, and a U.S.-dollar factoring facility of $525.07, plus accruing costs and interest. The company's Statement of Affairs, declared October 5, 2017 as of September 19, 2017, reported total assets of $640,000 against total liabilities of $2,288,439.72 - combining unsecured claims of $2,170,349.99 and balance-of-secured claims of $118,089.73 - for a stated deficiency of $1,648,439.72 and no surplus.
Debtor
New Concept Quality Doors Ltd.
Receiver
Albert Gelman
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Valcap Properties Inc · in 2 casesNo particulars of security stated in document — Address matches Debtor's business premises (8550 Keele St, Concord ON) - likely landlord/property claim. Estimated value of security stated as $0.00; balance of claim shown as fully unsecured/bifurcated in List 'A'. — debtor: New Concept Quality Doors Ltd. · as of 19 Sep 2017 | $118K | Notice and Statement of the Receiver |
| 4 | Secured | |||
| 4 | Secured | |||
| 5 | PMSI / lessors | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
37 more claims in 3 classes The stack holds Secured, PMSI / lessors and Unsecured claims.
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The 2 totals the debtor stated at filing
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See all plans| Date | Document | File |
|---|---|---|
Notice and Statement of the Receiver
| PDF · Subscribers | |
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CiteProceedings., “New Concept Quality Doors Ltd.” (Receivership (court-appointed)). Retrieved 5 November 2026, https://proceedings.ca/case/new-concept-quality-doors-ltd