Biosenta Inc.
- Proceeding
- Proposalsection 62 of the Bankruptcy and Insolvency Act
- File
- 31-2059292
Biosenta Inc. filed a Division I proposal under section 62 of the Bankruptcy and Insolvency Act on November 18, 2015, with A. Farber & Partners Inc. as trustee, under court file 31-2059292 in Ontario. The proceeding remains active. The Statement of Affairs at the date of filing shows total liabilities of $5,110,181 against assets with an estimated realizable value of $196,617, valued on a going concern basis and without an in-depth analysis or audit by the trustee. Liabilities include an $87,538 deemed trust claim of the Canada Revenue Agency for source deductions, payable to the Receiver General ahead of other unsecured creditors, $13,000 of preferred claims under section 136, $4,806,476 owed to unsecured creditors with proven claims over $5,000 including convertible debenture noteholders, and $25,000 of convenience claims to be paid in full. The secured creditor, holder of a secured grid note dated October 28, 2015, has an estimated claim of $300,000.
Debtor
Biosenta Inc.
Proposal trustee
A. Farber & Partners
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Promissory Noteholder(s) (secured grid note dated October 28, 2015)as of date of filing the Proposal — Secured grid note dated October 28, 2015 in aggregate principal amount of up to $300,000, together with additional secured promissory notes in aggregate amount of up to $500,000 (facility limits, not balances) — Referred to as 'Secured Creditor' in Amended Proposal and Statement of Affairs; estimated claim amount per Trustee's report tables is $300,000 — debtor: Biosenta Inc. | $300K | Notice to Creditors of Proposal |
| 6 | Landlord preferred | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
4 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 plansUnsecured creditors: paid in full.Under the planNotice to Creditors of Proposal · 24 Nov 2015
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | Deemed Trust Creditors - Source Deductions | estimated | paid in full | Under the planper the proposal trustee | Notice to Creditors of Proposal · 24 Nov 2015 |
| Preferred | Preferred creditors, as per section 136 of the Act | — | paid in fullconditional | Under the planper the proposal trustee | Notice to Creditors of Proposal · 24 Nov 2015 |
| Unsecured | Unsecured creditors who prove a claim for $5,000 or less | — | paid in full | Under the planper the proposal trustee | Notice to Creditors of Proposal · 24 Nov 2015 |
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.
2 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansAs at ·
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 |
|---|---|---|
Notice to Creditors of Proposal
| PDF · Subscribers | |
Certificate of Filing of a Proposal
| 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., “Biosenta Inc.” (Proposal). Retrieved 5 November 2026, https://proceedings.ca/case/biosenta-inc