1001138302 Ontario Inc. (Antibe Therapeutics Inc.) has been in receivership since April 22, 2024, when Justice Osborne of the Ontario Superior Court of Justice (Commercial List) appointed FTI Consulting Canada Inc. as receiver and manager under section 101 of the Courts of Justice Act on the application of Nuance Pharma Ltd. On January 29, 2025 the court approved a reverse vesting transaction selling Antibe's shares to Taro Pharmaceuticals Inc., which closed on March 17, 2025, with excluded assets and liabilities transferred to ResidualCo. The Receiver paid Nuance its priority amount, and an interim distribution order of April 3, 2025 authorized approximately $17.8 million to unsecured creditors, a recovery of approximately 42% on unsecured proven claims, and $2,000 to preferred creditors. On July 7, 2026 the Receiver estimated a final distribution to unsecured creditors of between $0.8 million and $1.37 million.
The claims bar date has passed — claims were due by
Per the Notice to Claimants dated 26 June 2024.
The officer filed report no. Fourth Interim Report. The Receiver has collected the last remaining sales tax refunds owed to ResidualCo, completed an interim distribution to creditors, and is now working through final tax filings before seeking a final distribution and discharge. Court file CV-24-00719237-00CL.
Source: Fourth Interim Report of the Receiver- Section 246(2) of the BIA
The officer filed report no. Third Interim Report. The receivership has completed the sale transaction and resolved all creditor claims; remaining activities involve collecting outstanding sales tax refunds, finalizing tax filings, and determining and distributing any remaining funds to unsecured creditors before seeking discharge.
Source: Third Interim Report of the Receiver- Section 246(2) of the BIA
The officer filed report no. Second Interim Report. Following closing of the RVO Transaction on March 17, 2025, the Company's business and assets were sold to Taro Pharmaceuticals, with excluded assets/liabilities transferred to ResidualCo; no further assets remain to be realized except certain sales tax refunds, and the receivership is winding down toward a final distribution and discharge.
Source: Second Interim Report of the Receiver- Section 246(2) of the BIA
The officer filed report no. First Supplemental Report. The receivership sold Antibe's shares to Taro Pharmaceuticals under the court-approved Transaction, which closed March 17, 2025, and the Receiver has continued adjudicating claims and terminated its final remaining employee.
Receiver's Certificate, re: Closing of sale transaction to Taro Pharmaceuticals Inc. — Court officer certificate
Proof of Claim Form for Claims against Antibe Therapeutics Inc. — Proof of claim (blank form)
The court approved a sale and investment solicitation process. A bid deadline of 2024-07-31.
Source: Sale Process Order
A claims procedure was approved, setting a claims bar date of 2024-08-30.
Source: Claims Procedure Order
A claims procedure was approved, setting a claims bar date of 2024-08-30.
Source: Notice to Claimants
The court appointed FTI Consulting Canada Inc. as receiver and manager, on the application of Nuance Pharma Ltd.. Court file CV-24-00719237-00CL.
Guide
What to do when a company that owes you money goes bankrupt in Canada
When a Canadian company that owes you money goes bankrupt or into creditor protection, what you actually get back is usually a fraction of the debt, often nothing, and only if your claim is in on time. How to find the case, file a claim, meet a bar date, vote on a plan, take back goods and get paid, drawn from the court record.
Outcome brief
Antibe Therapeutics: from a 2 a.m. CCAA filing to 42% for unsecured creditors
A Singapore tribunal held that Nuance Pharma validly rescinded its licence of Antibe's lead drug and ordered the US$20 million upfront payment returned. Justice Osborne ended Antibe's CCAA filing and appointed FTI as receiver; Taro Pharmaceuticals bought the company by reverse vesting order, and unsecured creditors received about 42% of $42.4 million in proven claims.
Debtor
1001138302 Ontario Inc.
Receiver
FTI
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Osborne | Ontario Superior Court of Justice | 7 orders, Apr 2024 – Apr 2025 | 168 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverFTI | Thornton Grout Finnigan LLP | 24 Jun 2024 | Service list · 28 Jan 2025 |
| Applicant | Bennett Jones LLP | 22 Apr 2024 | Order · 22 Apr 2024 |
| CreditorDavid O'Connor | Roy O'Connor LLP | 28 Jan 2025 | Service list · 28 Jan 2025 |
| CreditorLicensee, Knight Therapeutics | Davies Ward Phillips & Vineberg LLP | 28 Jan 2025 | Service list · 28 Jan 2025 |
| CreditorLotus Clinical Research, LLC | DLA Piper (Canada) LLP | 28 Jan 2025 | Service list · 28 Jan 2025 |
| CreditorNuance Pharma Ltd | Bennett Jones LLP | 28 Jan 2025 | Service list · 28 Jan 2025 |
| CreditorRoderick Flower, Robert Hoffman, Amal Khouri, Walt MacNee, Jennifer NcNealey and Yung Wu | Lax O'Sullivan Lisus Gottlieb LLP | 28 Jan 2025 | Service list · 28 Jan 2025 |
| CreditorSummit Analytical LLC | Speigel Nichols Fox LLP | 28 Jan 2025 | Service list · 28 Jan 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Nuance Pharma LimitedLargest creditor; Nuance additionally intends to seek recognition of a constructive trust claim over approx. USD $20 million (original licence-agreement prepayment, subject to a final arbitral award for its return plus interest and costs of approx. USD $4 million) and approx. CAD $19.6 million (cash on hand as of April 8, 2024); if the trust claim succeeds, this would displace some/all of this unsecured amount. Claim disputed/contested by Debtor as to characterization. — debtor: Antibe Therapeutics Inc. · as of 22 Apr 2024 | $33.8M | Notice and Statement of the Receiver |
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured |
75 more claims in 1 class The stack holds Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale closed — the Transaction closed and the only remaining realizable assets are certain sales tax refunds of ResidualCoFourth Interim Report of the Receiver- Section 246(2) of the BIA · 7 Jul 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Taro Pharmaceuticals Inc.all of the right, title and interest in and to the Purchased Shares · asset sale · ResidualCo: ResidualCo · agreement 15 Jan 2025 | Subscribers | Closed17 Mar 2025outside 27 Sep 2024 | Fourth Interim Report of the Receiver- Section… |
Unsecured creditors: a distribution. Nuance Pharma Ltd. a distribution · Nuance Pharma Ltd. paid in full.FinalFourth Interim Report of the Receiver- Section 246(2) of the BIA · 7 Jul 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | Nuance Pharma Ltd. | proven | a distribution | Finalper the receiver | Second Interim Report of the Receiver- Section 246(2) of the BIA · 30 May 2025 |
| SecuredNuance Distribution | Nuance Pharma Ltd. | — | paid in full | Finalper the receiver | Motion Record · 26 Mar 2025 |
| Preferred | — | — | interim | Finalper the receiver | Fourth Interim Report of the Receiver- Section 246(2) of the BIA · 7 Jul 2026 |
| Unsecured | — | — | of proven claimsinterim | Finalper the receiver | Fourth Interim Report of the Receiver- Section 246(2) of the BIA · 7 Jul 2026 |
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.
4 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs at ·
Cumulative receipts
$4.2M
As at 26 Mar 2025First Supplemental Report of the Receiver
Cash on hand
As at
Professional fees
As at
2 more reported figures, and the total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Fourth Interim Report of the Receiver- Section 246(2) of the BIA
| PDF · Subscribers | |
Third Interim Report of the Receiver- Section 246(2) of the BIA
| PDF · Subscribers | |
Second Interim Report of the Receiver- Section 246(2) of the BIA
| PDF · Subscribers | |
Endorsement
| PDF · Subscribers | |
Interim Distribution Order
| PDF · Subscribers | |
Factum of the Receiver
| PDF · Subscribers | |
First Supplemental Report of the Receiver
| PDF · Subscribers | |
Motion Record
| PDF · Subscribers | |
Receiver's Certificate, re: Closing of sale transaction to Taro Pharmaceuticals Inc.
| PDF · Subscribers | |
Ancillary Order
| PDF · Subscribers | |
Reverse Vesting Order
| PDF · Subscribers | |
Aide Memoire
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Second Report of the Receiver | PDF · Subscribers | |
First Interim Report of the Receiver- Section 246(2) of the BIA
| PDF · Subscribers | |
Fourth Sale Process Letter Update
| PDF · Subscribers | |
Third Sale Process Letter Update
| PDF · Subscribers | |
Second Sale Process Letter Update
| PDF · Subscribers | |
| Proof of Claim Form for Claims against Antibe Therapeutics Inc. | PDF · Subscribers | |
| Proof of Claim Instruction Letter | PDF · Subscribers | |
Sale Process Letter Update
| PDF · Subscribers | |
Notice to Claimants
| PDF · Subscribers | |
Claims Procedure Order
| PDF · Subscribers | |
Revised Claims Procedure Order and Claims Procedure
| PDF · Subscribers | |
Revised Claims Procedure Order and Claims Procedure (blackline)
| PDF · Subscribers | |
Sale Process Order
| PDF · Subscribers | |
Motion Record of the Receiver
| PDF · Subscribers | |
First Report of the Receiver
| PDF · Subscribers | |
Notice and Statement of the Receiver
| PDF · Subscribers | |
Order (appointing Receiver) of Justice Osborne
| PDF · Subscribers | |
| Notice of Dispute of Revision or Disallowance | 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., “1001138302 Ontario Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice · Commercial List. Retrieved 4 November 2026, https://proceedings.ca/case/1001138302-ontario-inc
Sources last checked · summary updated 1 October 2026 · Report a correction · Printed from proceedings.ca/case/1001138302-ontario-inc
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.