IGY Immune Technologies & Life Sciences Inc., IGY Life Sciences Manufacturing Inc. and IGY Life Sciences USA, Inc. were placed in court-appointed receivership on April 17, 2026, when the Court of King's Bench of Alberta appointed Alvarez & Marsal Canada Inc. receiver and manager on the application of Farm Credit Canada under section 243(1) of the Bankruptcy and Insolvency Act. On an estimated book value basis at that date the group carried total assets of $12,204,079 against total liabilities of $12,538,698. Farm Credit Canada holds the secured debt at $12,179,678; the largest unsecured claims are Business Development Bank of Canada at $133,400 and WPIC Marketing Limited at $81,171. The receivership is carried under court file no. 2601-06780.
Second Report recorded termination of the SISP after three LOIs yielded no Phase 2 qualified bids, commencement of an alternative realization process, and a request to raise the borrowing charge from $500,000 to $1,000,000.
Source: Second Report of the Receiver
Justice R.W. Armstrong approved the two-phase sale and investment solicitation process and authorized the Receiver to implement it and enter resulting agreements, any transaction subject to further Court approval.
First Report recorded the taking of control, termination of all employees effective May 1, 2026, and receipts of $41,422 against disbursements of $220,590 to May 29, 2026; sought approval of a two-phase SISP.
Source: First Report of the Receiver
Receivership order pronounced April 17, 2026 put Alvarez & Marsal Canada Inc. in as receiver and manager over the three IGY companies on Farm Credit Canada's application.
Source: Receivership Order
Case update
IGY Life Sciences: 65 parties, three letters of intent, no qualified bid
Alvarez & Marsal's sale process for the Airdrie antibody developer drew three letters of intent and no qualified bid by an extended August 31 deadline. The receiver has ended it, held discussions with auctioneers and commercial real estate professionals, and asks to double its fully drawn $500,000 borrowing charge, a request it says Farm Credit Canada supports.
Debtor
IGY Immune Technologies & Life Sciences Inc., IGY Life Sciences Manufacturing Inc. and IGY Life Sciences USA, Inc.
Receiver
Alvarez & Marsal
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Armstrong | Court of King's Bench of Alberta | 3 orders, Apr 2026 – Jun 2026 | 30 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverAlvarez & Marsal | McCarthy Tétrault LLP | 7 May 2026 | Service list · 7 May 2026 |
| Applicant | Miller Thomson LLP | 7 May 2026 | Service list · 7 May 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Farm Credit Canada · in 40 casesPer books and records as at April 17, 2026 (receivership date); preliminary list submitted by the Debtor without admission as to liabilities or privilege. — debtor: IGY Immune Technologies & Life Sciences Inc., IGY Life Sciences Manufacturing Inc. and IGY Life Sciences USA, Inc. · as of 17 Apr 2026 | $12.2M | Notice to Creditors |
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
37 more claims in 1 class The stack holds Secured 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 plansNo acceptable bid — The SISP was terminated after no Phase 2 Qualified Bids were received; the Receiver has commenced an Alternative Realization Process (auction, realtor or sales agent, or other means) for the Property.Second Report of the Receiver · 5 Oct 2026
As at ·
Cumulative receipts
$68.4K
As at 5 Oct 2026Second Report of the Receiver
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures, and 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 |
|---|---|---|
Second Report of the Receiver
| PDF · Subscribers | |
Application
| PDF · Subscribers | |
Approval Order
| PDF · Subscribers | |
Sales, Investment, and Solicitation Process Order
| PDF · Subscribers | |
First Report of the Receiver
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
Originating Application
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
| Affidavit of Dale Snider | 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., “IGY Immune Technologies & Life Sciences Inc., IGY Life Sciences Manufacturing Inc. and IGY Life Sciences USA, Inc.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/igy-immune-technologies-life-sciences-inc-igy-life-sciences-manufacturing-inc-an
Sources last checked · summary updated 1 September 2026 · Report a correction · Printed from proceedings.ca/case/igy-immune-technologies-life-sciences-inc-igy-life-sciences-manufacturing-inc-an
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.