Angiochem Inc
- Proceeding
- Proposalarticle 58 de la Loi sur la faillite et l'insolvabilité
- File
- 200-11-029790-246
- Industry
- Health care · Pharmaceuticals & biotech
Angiochem Inc., a Quebec entity, is in active Division I proposal proceedings under the Bankruptcy and Insolvency Act. The Form 78 statement of affairs, as declared and estimated as at December 19, 2024, put total assets at $4.00 against total liabilities of $4,309,157.34 — $4.00 secured, no preferred, and $4,309,153.34 unsecured — for a declared deficit of $4,309,153.34, with subscribed and paid-up capital of $55,571,475.00 shown separately and excluded from assets. The list of creditors as of the same date shows Investissement Québec as secured for $1,599,511.00. Unsecured claims run from $58.41 owed to UPS Canada to $600,000.00 owed to JBH Consulting Sàrl, followed by Cenexi-Laboratoires Thissen at $490,133.34, Osler, Hoskin & Harcourt LLP at $229,561.72 and Piramal Pharma Solutions Inc. at $219,606.61.
A claims procedure has been established — see the order for deadlines.
Request for the approval of the Proposal (in French only) was filed. Court file 200-11-029790-246.
Source: Request for the approval of the Proposal (in French only)
The officer filed a report. The debtor is inoperative, with no employees since May 2024 and no revenues after exhausting its financial resources. No operations are planned for the next 60 days, and patent protection costs and professional fees are to be paid directly by Biovie.
Source: Report of the Trustee on the financial situation of the Debtor and on the proposal
The officer filed a report. Angiochem, a Québec biotechnology company, ceased to be able to pay its debts or fund a phase III clinical study and was declared bankrupt on a creditor's petition on 19 December 2024. The Trustee is repatriating books and records, has opened a trust bank account, and is preparing to protect the patents; a possible proposal under section 50(1)(e) BIA involving Biovie to resume activities is under discussion.
Source: Trustee's Report on its preliminary administration (in French only)
Debtor
Angiochem Inc
Proposal trustee
PwC
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Morin | Superior Court of Québec | 2 orders, Dec 2024 – Mar 2025 | 10 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorPlacements Biovie inc | Stein Monast s.e.n.c.r.l. | 4 Dec 2024 | Application · 4 Dec 2024 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Investissement Québec · in 105 casesListed as secured creditor in List of Creditors attached to Notice of Bankruptcy; amount as reported as of date of bankruptcy — debtor: Angiochem Inc. · as of 19 Dec 2024 | $1.6M | Notice of bankruptcy and first meeting of creditors |
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
36 more claims in 1 class The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: not yet estimated.Under the plan · sanctionedReport of the Trustee on the financial situation of the Debtor and on… · 14 Feb 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | Unsecured creditors (Proposal Option 1) | estimated | not yet estimatedconditional | Under the plansanctionedper the trustee | Report of the Trustee on the financial situation of the Debtor and on… · 14 Feb 2025 |
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.
1 blurred figure 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 ·
Professional fees
$50K
As at 8 Jan 2025Trustee's Report on its preliminary administration (in French only)
The 2 totals 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 |
|---|---|---|
Order approving the Proposal (in French only)
| PDF · Subscribers | |
Request for the approval of the Proposal (in French only)
| PDF · Subscribers | |
| Election of payment option form | PDF · Subscribers | |
| Notice of hearing of application for Court approval of proposal | PDF · Subscribers | |
Notice of proposal
| PDF · Subscribers | |
| Proof of claim form | PDF · Subscribers | |
Report of the Trustee on the financial situation of the Debtor and on the proposal
| PDF · Subscribers | |
Voting Letter
| PDF · Subscribers | |
| Proposal | PDF · Subscribers | |
Trustee's Report on its preliminary administration (in French only)
| PDF · Subscribers | |
Notice of bankruptcy and first meeting of creditors
| PDF · Subscribers | |
Bankruptcy Order (in French only)
| PDF · Subscribers | |
Motion for bankruptcy (in French only)
| 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., “Angiochem Inc” (Proposal), Superior Court of Québec. Retrieved 5 November 2026, https://proceedings.ca/case/angiochem-inc