#Report
Report of the Trustee's Preliminary Administration, dated March 18, 2025 — Court officer report
Innovere Medical Inc.
FollowClosed
- Proceeding
- CCAACCAA
- Court
- Ontario Superior Court of Justice · Commercial List
- File
- CV-24-00730634-00CL
Filings held33
Last activity18 Mar 2025
On the record685 days
OverviewSummary updated
Innovere Medical Inc. remains under CCAA protection in the Ontario Superior Court of Justice, court file CV-24-00730634-00CL, with the stay of proceedings extended to February 28, 2025 by an order dated January 13, 2025. The proceeding began November 5, 2024 under a stay expiring November 15, 2024, which a further order made that day carried to January 31, 2025. Bids were due December 16, 2024. The applicant's unaudited balance sheet as at October 28, 2024 shows total liabilities of $9,615,264, being current liabilities of $4,839,573 and non-current liabilities of $4,775,691, with no total assets figure. BDC issued a demand and notice of intention to enforce security claiming $4,365,000 as of October 15, 2024 on a facility that matured August 6, 2024; ESFC Funding Co., LLC is owed approximately $332,122 as of September 30, 2024, ranking ahead of BDC in SR&ED tax-credit proceeds, and the Canada Revenue Agency asserts a deemed trust claim of $45,482.39.
Proceedings AIAsk this case — answers cite the filings
Case updates33 dated entries
30 earlier updates, back to 5 November 2024 — subscribers.
Parties
Debtor
Innovere Medical Inc.
Monitor
EY
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Black | Ontario Superior Court of Justice | 7 orders, Nov 2024 – Jan 2025 | 176 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorEY | Thornton Grout Finnigan LLP | 13 Nov 2024 | Service list · 13 Nov 2024 |
| ApplicantInnovere Medical Inc. | Torys LLP | 4 Nov 2024 | Factum · 4 Nov 2024 |
| Interim lenderHawk Capital (Canada) Inc | Blake, Cassels & Graydon LLP · Stikeman Elliott LLP | 13 Nov 2024 | Endorsement · 15 Nov 2024 |
| CreditorBDC Capital Inc | McMillan LLP | 13 Nov 2024 | Service list · 13 Nov 2024 |
| CreditorSiemens Healthineers AG | Blake, Cassels & Graydon LLP | 13 Nov 2024 | Service list · 13 Nov 2024 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Deemed trusts (CRA and other) | Canada Revenue Agency · in 926 casesDeemed trust class; arrears amount per CRA letter dated February 6, 2024; Applicant states it has been unable to ascertain what this amount relates to despite diligent efforts — debtor: Innovere Medical Inc. · as of 6 Feb 2024 | $45.5K | Application Record (Part 1), returnable November 5, 2024 |
57 more claims across lower-ranking classesSubscribe to view
Sale processAs stated in the filings
RecoveriesAs stated in the filings
Unsecured creditors: no distribution.EstimatedReport of the Trustee's Preliminary Administration · 18 Mar 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the trustee | Report of the Trustee's Preliminary Administration · 18 Mar 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.
Estate financialsReported figures — never derived
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
Documents
33 filings
| Date | Document | File |
|---|---|---|
Report of the Trustee's Preliminary Administration, dated March 18, 2025
| PDF · Subscribers | |
| Creditors' Package | PDF · Subscribers | |
| Certificate of Appointment, dated February 25, 2025 | PDF · Subscribers | |
| Monitor's Certificate, dated February 25, 2025 | PDF · Subscribers | |
| Approval and Reverse Vesting Order, dated January 13, 2025 | PDF · Subscribers | |
Endorsement of Black, J., dated January 13, 2025
| PDF · Subscribers | |
Factum of the Applicant, returnable January 13, 2025
| PDF · Subscribers | |
| Motion Record, returnable January 13, 2025 | PDF · Subscribers | |
Sealing Order, returnable January 13, 2025
| PDF · Subscribers | |
Stay Extension, Fee Approval and CAA Termination Order, dated January 13, 2025
| PDF · Subscribers | |
Responding Factum of Siemens Healthineers, dated January 12, 2025
| PDF · Subscribers | |
| Responding Motion Record of Siemens Healthineers, dated January 12, 2025 | PDF · Subscribers | |
| Second Report of the Monitor, dated January 9, 2025 | PDF · Subscribers | |
Amended and Restated Initial Order, dated November 15, 2024
| PDF · Subscribers | |
Endorsement of Black, J., dated November 15, 2024
| PDF · Subscribers | |
Factum of the Applicant, returnable November 15, 2024
| PDF · Subscribers | |
Motion Record re Amended and Restated Initial Order and SISP Approval Order (Part 1), returnable November 15, 2024
| PDF · Subscribers | |
| Motion Record re Amended and Restated Initial Order and SISP Approval Order (Part 2), returnable | PDF · Subscribers | |
| Motion Record re Amended and Restated Initial Order and SISP Approval Order (Part 3), returnable | PDF · Subscribers | |
| Motion Record re Amended and Restated Initial Order and SISP Approval Order (Part 4), returnable | PDF · Subscribers | |
SISP Approval Order, dated November 15, 2024
| PDF · Subscribers | |
| First Report of the Monitor, dated November 13, 2024 | PDF · Subscribers | |
Service List as at November 13, 2024
| PDF · Subscribers | |
List of Creditors
| PDF · Subscribers | |
| Notice to Creditors | PDF · Subscribers | |
Application Record (Part 1), returnable November 5, 2024
| PDF · Subscribers | |
| Application Record (Part 2), returnable Novemer 5, 2024 | PDF · Subscribers | |
| Application Record (Part 3), returnable November 5, 2024 | PDF · Subscribers | |
| Application Record (Part 4), returnable November 5, 2024 | PDF · Subscribers | |
Endorsement of Black, J., dated November 5, 2024
| PDF · Subscribers | |
Initial Order, dated November 5, 2024
| PDF · Subscribers | |
Factum, dated November 4, 2024
| PDF · Subscribers | |
Report of the Proposed Monitor, dated November 4, 2024
| 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., “Innovere Medical Inc.” (CCAA), Ontario Superior Court of Justice · Commercial List. Retrieved 20 September 2026, https://proceedings.ca/case/innovere-medical-inc