Quality of service
We are Passionate About Helping Clients Achieve Their Goals
Unfortunate circumstances led us into a very difficult financial situation for our corporation, but thanks to the team at AGI, who developed a turnaround plan for us to follow, we’re now back on track towards generating profit and growth.
I didn’t think the collection calls would ever stop, but after signing up with AGI the creditors stop calling and my proposal provided the relief I never thought I would get.
AGI stepped in and guided my client through the insolvency process, it was a seamless transition and was a great reflection on me and my firm.
The team at AGI visited our offices and shared a great presentation with our group. We’re now better equipped to advise our clients when they encounter a personal or corporate insolvency situation.
- Corporate insolvency
- Personal debt
- Income tax debt
- Corporate Director Liabilities
- Forensic review
- Referral partners
When a corporation runs into financial trouble the solution is not always clear, and often several options need to be explored in order to find the best solution. With over 86 years of combined team experience, the team at Albert Gelman Inc. has worked with corporations in Manufacturing, Automotive, Construction, Retail, Food and Beverage, Software, High Tech, Real Estate, Printing, Electroplating, Pharmaceuticals, Injection Moulding, Transportation and others. The experience of our team allows us to present, and execute, the best solution for any business or industry. Helping our clients understand their options, and supporting them through the execution of a personalized strategy, is our number one goal. We routinely work with owner managed companies, executives, and shareholders, to come up with a solution that is best suited to the individual, corporation, and industry.
When you work with the team at Albert Gelman Inc. you are offered the personal respect and consideration you deserve during what is undoubtedly a difficult time; given your situation, our team is careful and deliberate to ensure that we discuss all options available so that we come to the best possible outcome for you. In many cases the solutions presented to you result in making a single monthly payments, stopping the interest on your debts from growing, and in most cases we are able to reduce the overall amount of debt that you have to repay. We recognize that each financial solution is different, depends on your personal circumstances, and needs to be solved quickly so you can get your finances back in order. Read more
It is becoming more common for people find themselves in situations where they are not able to pay their income tax debt owing to the Canada Revenue Agency (CRA), debts that may result from the following:
a re-assessment of a prior year personal income tax return,
a self-employed personal who has underreported their income,
situations in which the CRA has disallowed self employed expenses being claimed,
the inability to make the required income tax installments,
an unsuccessful tax appeal resulting in a larger tax debt than anticipated,
the inability to pay tax arrears as a result of an unexpected financial problem.
Pulling from our many years of experience working with the CRA, Albert Gelman Inc. helps both individuals and corporations settle their CRA debt that may involve unsuccessful tax appeals, taxpayer relief applications, and re-assessments by the CRA for tax shelters. Read more
Have you been assessed by the Canada Revenue Agency (CRA) or the Ministry of Finance for liabilities resulting from unpaid GST/ HST, payroll source deductions, or PST? Has a government agency garnished funds from your personal bank account? According to the Income Tax Act, Directors of corporations are liable to the Canada Revenue Agency for unpaid GST, HST and payroll source deductions. Directors are also liable to the Ministry of Finance for unpaid PST. When you find yourself in this situation, the filing of a Proposal under the Bankruptcy and Insolvency Act can stop the garnishment of funds from your bank account and allow you the opportunity to make an offer to settle your tax debts at less than the amount. Read more
Canadian insolvency legislation grants a Licensed Insolvency Trustee significant powers to augment forensic investigations and recover assets. Such powers include examinations of persons under oath, court orders for the production and delivery of property and records, recovery of property obtained fraudulently or otherwise transferred or hidden, and the declaration that transactions deliberately contrived at “undervalue” be void. Trustees can also act in the capacity of Expert Witness or Officer of the Court for the execution of Anton Piller Orders and Mareva Injunctions. Read more
Often times when a corporation finds itself in financial trouble the first person they turn to is a professional advisor – their lawyer or accountant. These professionals are often looked at as the advisors that can be counted on when tough decisions need to be made, particularly when expenses begin to outweigh revenue and making payments to creditors becomes impossible. However, even lawyers and accountants need the support of a Licensed Insolvency Trustee to work through the details and options available to their clients. In fact, lawyers and accountants routinely seek our advice because of our expertise and experience in our field; we are the experts who provide the best alternatives and advice to sort through some of the most complicated financial challenges. The options presented by the team at Albert Gelman Inc. provide the best relief, remedies and solutions available under insolvency law. If you have a client in a financial crisis please feel free to reach out to us, we are happy to meet with you either alone, or with your client, to discuss review options available to you and recommend the best, and most cost effective solutions. Connect with us
Why Albert Gelman Inc?
Small Boutique Firm
Albert Gelman Inc. is a small and nimble firm that offers a personal and relationship based experience. Unlike the some larger firms in the industry, we make every effort to ensure our team is available 24/7 to our clients. Further, when our partners call to speak with a Licensed Insolvency Trustee they actually speak with the trustee, not a front line administrator.
Our team of experts bring over 50 years of combined experience in the insolvency business, with a significant amount of industry diversification. Our vast experience allows us to pull from a wide variety lessons learned, and when this is combined with the collaborative nature of our firm we are able to bring the best solution forward to our clients.
Albert Gelman Inc. operates with an eye to building and maintaining a personal approach to how we handle our files. Customers do not simply represent a number on a docket to us, instead each file represents a person who is living with a real financial problem that can (and will be) solved by our team.
As a function of the smaller size of the organization, we are able to leverage the internal strengths of our diverse group of Trustees to create a culture of collaboration and teamwork. This allows problems to be solved with “out of the box” thinking that often results in creative solutions that are not generated elsewhere; we find that our innovative ideas lead to some of the most positive outcomes for our clients.
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What to expect on a discovery call
Get a personalized assessment of your financial situation. Obtain clarity on your options. Achieve your goals with the least amount of financial impact.
Head Office 100 Simcoe Street, Suite 125 Toronto, Ontario M5H 3G2