North Point Finance Inc.
- Proceeding
- BankruptcyBankruptcy and Insolvency Act, sections, 18, 24, and 31(1)
- File
- 24-115942
- Industry
- Real estate · Rental & income property
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.
Application to Increase Borrowing Filed April 26, 2018.pdf — Application / notice of application
The officer filed report no. Second Report. The bankrupt's sole substantive asset is a commercial property in Red Deer, which the Trustee is securing, insuring, and maintaining while a related ATB Financial foreclosure/judicial sale proceeds; the Trustee has been borrowing funds to cover preservation costs pending disposition.
The officer filed report no. First Report. The bankrupt's sole substantive asset is a vacant commercial property (former bar/restaurant/convention centre) which has been vacant since 2016 and is listed for sale, with ATB Financial pursuing foreclosure and the Trustee seeking borrowing authority to fund preservation costs.
Undated filings1 — no date appears on the document · show
Debtor
North Point Finance Inc.
Trustee in bankruptcy
Doane Grant Thornton
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | ATB Financial · in 59 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 |
| 6 | Landlord preferred | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
39 more claims in 2 classes The stack holds Secured, Landlord preferred and Unsecured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansATB 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.
As at ·
Cash on hand
$9.75K
As at 23 Apr 2018Trustee's Second Report Filed April 24 2018.pdf
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| 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 5 November 2026, https://proceedings.ca/case/north-point-finance-inc