Noreast Foods Ltd. and Aerdon Continental Corp.
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-19-00621751-00CL
- Industry
- Manufacturing · Food & beverage manufacturing
Noreast Foods Ltd. and Aerdon Continental Corp. are in court-appointed receivership under BIA s.243 and the provincial Judicature Act, following an Appointment Order dated July 26, 2019. Aerdon held no assets as of that date, and Noreast lacked a functioning bookkeeping system or financial statements, with unfiled corporate tax returns for 2016-2018. The Toronto-Dominion Bank is the principal secured creditor, owed approximately $3,392,032.71 as at the Appointment Order date under an operating line and two term loans, following demands issued in May 2019. Other secured claims include equipment and vehicle financiers, a CRA deemed trust claim of $86,006.24 for unremitted payroll deductions, and disputed general security agreements held by related parties Christine Qun Xu and 10519219 Canada Corp. A lengthy unsecured creditor list, including trade suppliers, landlords, utilities and a Service Canada wage claim of approximately $32,000, was disclosed in the Receiver's Notice and Statement.
Debtor
Noreast Foods Ltd. and Aerdon Continental Corp.
Receiver
Albert Gelman
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 2 orders, Oct 2024 | 245 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Applicant | Blaney McMurtry LLP | 16 Jul 2019 | Application · 16 Jul 2019 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (payroll source deductions - deemed trust) · in 985 casesas of First Report dated September 5, 2019 — Deemed trust claim under BIA for unremitted payroll source deductions — Deemed trust class. Of the $86,006.24 total proof of claim, $35,815.24 represents trust funds for employee CPP/EI/income tax deductions, ranking as a priority claim above all other creditors. Receiver believes trust amount will increase once 2019 employee T4's are posted and CRA completes its audit. Earlier Receiver's Notice (Aug 2, 2019) estimated this deemed-trust claim at $100,000 (Debtor's own estimate). — debtor: Noreast Foods Ltd. | $86K | Receiver’s Motion Record, including its First Report to Court (for motion returnable September 17, 2019) |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured |
42 more claims in 3 classes The stack holds Deemed trusts (CRA and other), Secured, Landlord preferred and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansThis proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
2 engagements · 2 firms — latest: Albert Gelman Inc., 26 Jul – 31 Aug 2019, in feesReceiver’s Motion Record, including its First Report to Court (for… · 5 Sep 2019
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Aird & Berlis LLPCounsel to the receiver | 29 Jul – 28 Aug 2019 | — | Receiver’s Motion Record, including its First Report to Court (for… · 5 Sep 2019 | ||
| Albert Gelman Inc.Receiver | 26 Jul – 31 Aug 2019 | Receiver’s Motion Record, including its First Report to Court (for… · 5 Sep 2019 |
5 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Endorsement of Justice Steele dated October 31, 2024
| PDF · Subscribers | |
Order of Justice Steele dated October 31, 2024
| PDF · Subscribers | |
| Aide Memoire of the Receiver (for motion returnable October 31, 2024) | PDF · Subscribers | |
| Receiver’s Motion Record, inlcudings its Second Report to Court (for motion returnable October 31, 2024) | PDF · Subscribers | |
Endorsement of Justice McEwan dated September 17, 2019
| PDF · Subscribers | |
Order of Justice McEwen dated September 17, 2019
| PDF · Subscribers | |
Receiver’s Motion Record, including its First Report to Court (for motion returnable September 17, 2019)
| PDF · Subscribers | |
| Service List as at September 5 2019 | PDF · Subscribers | |
| Endorsement of Justice Conway dated July 26 2019 | PDF · Subscribers | |
Receivership Appointment Order dated July 26 2019
| PDF · Subscribers | |
Amended Notice of Application dated July 16 2019
| PDF · Subscribers | |
| Affidavit of Jacinto Jack Borges sworn on Jun 24 2019 | PDF · Subscribers | |
| Exhibits to Affidavit of Jacinto Jack Borges dated Jun 24, 2019 (non confidential) | PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Noreast Foods Ltd. and Aerdon Continental Corp.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/noreast-foods-ltd-and-aerdon-continental-corp