#Report
Court officer's report filed, recording November 18, 2015 as the date of Biosenta's proposal under Ontario court file 31-2059292.
Biosenta Inc.
FollowActive
- Proceeding
- Proposalsection 62 of the Bankruptcy and Insolvency Act
- File
- 31-2059292
Filings held2
Last activity18 Nov 2015
On the record3,960 days
Secured debt$300K
OverviewSummary updated
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.
Proceedings AIAsk this case — answers cite the filings
Case updates2 dated entries
#Claims
A process for the filing and determination of creditor claims was approved, effective the same date the proposal was made.
Source: Notice to Creditors of Proposal
Parties
Debtor
Biosenta Inc.
Proposal trustee
GlassRatner
Capital structureAs asserted in the filings
| # | 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 | Preferred Creditors - s. 136 of the Actas of date of filing the Proposal — Preferred claim under section 136 of the Act (includes landlord's preferred claim for up to three months' rent arrears); ranks ahead of ordinary unsecured creditors — debtor: Biosenta Inc. | $13K | Notice to Creditors of Proposal |
| 8 | Unsecured | Unsecured Creditors with proven claims over $5,000 (including CD Noteholders)as of date of filing the Proposal — Aggregate figure; includes holders of unsecured convertible debentures (CD Holders/Noteholders); no individual creditors named in this report — debtor: Biosenta Inc. | $4.81M | Notice to Creditors of Proposal |
| 8 | Unsecured | Deemed Trust Creditors - Source Deductions (Canada Revenue Agency / Receiver General)as of date of filing the Proposal — Deemed trust claim; Management believes outstanding amount owing of approximately $87,540 (prose approximation), Trustee's Statement of Affairs/table states $87,538 (also referenced as $87,538 total liabilities breakdown); to be paid to Receiver General in priority to other unsecured creditors — debtor: Biosenta Inc. | $87.5K | Notice to Creditors of Proposal |
| 8 | Unsecured | Convenience Creditors (Unsecured creditors with proven claims equal to or less than $5,000)as of date of filing the Proposal — Aggregate of small unsecured claims (≤$5,000 each) to be paid in full; no individual creditors named — debtor: Biosenta Inc. | $25K | Notice to Creditors of Proposal |
Estate financialsReported figures — never derived
Total assets at filing$197K
Total liabilities at filing$5.11M
per Statement of Affairs reflects Biosenta's assets and estimated liabilities at the date of filing the Proposal; valuation of assets assumes going concern; Trustee has not prepared an in-depth analysis or audit · Biosenta Inc. (entity-level, going concern basis) — as at date of filing the Proposal — Total liabilities of $5,110,181 include $87,538 deemed trust claim of Canada Revenue Agency; estimated realizable value of assets is $196,617; if business closed and liquidated, net realizable value may be diminished further
Documents2 filings
| Date | Document | File |
|---|---|---|
Notice to Creditors of Proposal
| ||
Certificate of Filing of a Proposal
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Biosenta Inc.” (Proposal). Retrieved 20 September 2026, https://proceedings.ca/case/biosenta-inc