North Point Finance Inc.
Follow- Proceeding
- BankruptcyBankruptcy and Insolvency Act, sections, 18, 24, and 31(1)
- File
- 24-115942
North Point Finance Inc. has been in insolvency proceedings since December 12, 2017, and the matter remains active. A Statement of Affairs as at January 19, 2018 reports total assets of $3,900,001.00 against total liabilities of $4,806,530.64 — $3,906,530.64 unsecured, $800,000.00 secured and $100,000.00 preferred — with a deficiency of $906,529.64 stated on the face of the form. ATB Financial holds the secured claim under a mortgage given September 16, 2014 over the building and land at 6846 - 66 Street in Red Deer, together with security over furniture, fixtures and equipment, and is shown with an estimated surplus from security of $3,100,001.00. The largest unsecured claim, $906,000.00, is listed to Brad Gabrielson, noted as a possible related party; the City of Red Deer's $100,000.00 property tax claim is listed as preferred.
Application by Grant Thornton Filed August 16, 2018.pdf — Application / notice of application
The officer filed report no. Fourth Report. The Trustee is administering North Point's bankruptcy estate, whose sole substantive asset is the Red Deer property; after a first purchaser's financing fell through, the Trustee accepted a new unconditional offer from a second purchaser, subject to court approval, while continuing to secure insurance and manage the property pending sale.
9 earlier updates, back to 19 January 2018 — subscribers.
Undated filings1 — no date appears on the document · show
1 filings carry no date on their face — subscribers.
Debtor
North Point Finance Inc.
Trustee in bankruptcy
Doane Grant Thornton
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | ATB Financial · in 56 casesMortgage - Real Property/Immovable (Building and Land - Red Deer - 6846 - 66 Street), given 16-Sep-2014; also security over Other - Furniture, fixtures and equipment, given 16-Sep-2014 — Balance of claim shown as 0.00 with estimated surplus from security of $3,100,001.00; estimated value of security $800,000.00 (real property) plus $1.00 (other) — debtor: North Point Finance Inc. · as of 19 Jan 2018 | $800K | Creditors Package.pdf |
ATB Financial: paid in full.EstimatedTrustees Fifth Report Filed August 30, 2018.pdf · 29 Aug 2018
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | ATB Financial | — | paid in full | Estimatedper the trustee | Trustees Fifth Report Filed August 30, 2018.pdf · 29 Aug 2018 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| Date | Document | File |
|---|---|---|
Trustees Fifth Report Filed August 30, 2018.pdf
| PDF · Subscribers | |
| Application by Grant Thornton Filed August 16, 2018.pdf | PDF · Subscribers | |
Trustee's Fourth Report Filed August 16, 2018.pdf
| PDF · Subscribers | |
| Application by Grant Thornton Filed May 23, 2018.pdf | PDF · Subscribers | |
| Trustee's Third Report Filed May 23, 2018.pdf | PDF · Subscribers | |
| Application to Increase Borrowing Filed April 26, 2018.pdf | PDF · Subscribers | |
| Trustee's Second Report Filed April 24 2018.pdf | PDF · Subscribers | |
Application Filed February 8, 2018.pdf
| PDF · Subscribers | |
| Trustee's First Report Filed February 8 2018.pdf | PDF · Subscribers | |
Creditors Package.pdf
| PDF · Subscribers | |
Certificate of Filing a Bankruptcy Order.pdf
| PDF · Subscribers | |
Consent to Act.pdf
| PDF · Subscribers | |
| Filed - Written Brief of Argument and Law.pdf | 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., “North Point Finance Inc.” (Bankruptcy), Court of King's Bench of Alberta. Retrieved 21 September 2026, https://proceedings.ca/case/north-point-finance-inc