On November 22, 2022, All-Rite Dock & Door Systems Inc. (the "Company") filed an assignment for the general benefit of its creditors and msi Spergel inc. ("Spergel") was appointed as the Licensed Insolvency Trustee (in such capacity, the "Trustee"). The Company was in the business of supplying, inspecting, repairing and installing all aspects of the door and dock system. It offered solutions for any industrial/commercial door type including overhead doors, high-speed fabric doors, drive-thru doors, automotive dealership doors and more.
The Toronto-Dominion Bank ("TD") is the senior secured creditor of the Company. Pursuant to a General Security Agreement dated February 9, 1996, on November 25, 2022 TD appointed Spergel as receiver (in such capacity, the "Receiver") of the assets, undertakings and property of the Company with all the powers of a Receiver referred to in the General Security Agreement.