OGEN Ltd. and OGEN Holdings Ltd.
Follow- Proceeding
- NOIBankruptcy and Insolvency Act, RSC 1985, c. B-3, as amended
- File
- 25-2958981, 25-2958977
OGEN Ltd. and OGEN Holdings Ltd. filed a notice of intention to make a proposal under the Bankruptcy and Insolvency Act on June 26, 2023, in the Court of King's Bench of Alberta, and the proceedings remain active. Combined unaudited management figures put book-value assets at $38,324,000 as at May 31, 2023, with liabilities at the filing date in excess of $28.35 million, comprising roughly $22,115,502 secured and $6,238,290 unsecured. Inventory book value is expected to be subject to a significant write-down pending the year-end audit, and property and equipment book value is well above recent appraised value.
Connect First Credit Union Ltd. is the primary secured lender, holding a first charge over all present and after-acquired real and personal property of both companies on a cross-guaranteed, cross-collateralized basis. A $500,000 interim facility from the companies' two largest shareholders awaits Court approval.
A claims procedure has been established — see the order for deadlines.
Stay Extension and Consolidation Order dated July 24, 2023 - Ogen Holdings Ltd. — Order (other)
The officer filed a report. Court file 25-2958981 / 25-2958977.
Source: First Report of the Proposal Trustee dated July 12, 2023
Both OGEN Holdings Ltd. and OGEN Ltd. filed notices of intention, opening the Alberta proceedings carried under court file numbers 25-2958981 and 25-2958977.
Certificate of Filing a Notice of Intention to Make a Proposal dated June 26, 2023 - OGEN Holdings Ltd. — NOI certificate of filing
Certificate of Filing a Notice of Intention to Make a Proposal dated June 26, 2023 - OGEN Ltd. — NOI certificate of filing
Debtor
OGEN Ltd. and OGEN Holdings Ltd.
Proposal trustee
AlixPartners
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Connect First Credit Union Ltd. (CFCU) · in 8 casesas of NOI filing date — First charge over all present and after-acquired real and personal property of OHL and OL; cross-guaranteed and cross-collateralized OHL Mortgage Loans ($21,411,380) secured against OHL's property (including OGEN Facility) and Margined Overdraft Account ($704,122) secured against OL's property; OL provided unlimited guarantee of OHL Mortgage Loans secured against its property, OHL provided unlimited guarantee of Margined Overdraft Account secured against its property — Primary secured lender; total comprised of $21,411,380 OHL Mortgage Loans and $704,122 Margined Overdr | $22.1M | First Report of the Proposal Trustee dated July 12, 2023 |
| 4 | Secured | Hawksworth Holdings Ltd. and G. Edwards Holdings Ltd. (Interim Lenders)Interim Lenders' Charge over all assets of the Companies to the extent subject to valid lien claims, priority over all secured and unsecured creditors and security interests, subject only to Administration Charge and D&O Charge — Related party - Hawksworth Holdings Ltd. and G. Edwards Holdings Ltd. are the two largest shareholders of OHL (46.31% and 40.67% respectively); Interim Loan/DIP facility pending Court approval; principal amount is facility limit, not yet advanced as of report date — debtor: OGEN Ltd. and OGEN Holdings Ltd. · as of 7 Jul 2023 | $500K | First Report of the Proposal Trustee dated July 12, 2023 |
| 8 | Unsecured | Canada Revenue Agency (CRA) - excise tax · in 926 casesas of NOI filing date — debtor: OGEN Ltd. and OGEN Holdings Ltd. | $4.75M | First Report of the Proposal Trustee dated July 12, 2023 |
| 8 | Unsecured | Suppliers and service providers (trade creditors, aggregate as reported) · in 2 casesas of NOI filing date — Excludes off-balance sheet obligations such as employee and landlord claims; document names no individual trade creditors in this summary (preliminary list of creditors filed separately with NOI statutory documents) — debtor: OGEN Ltd. and OGEN Holdings Ltd. | $786K | First Report of the Proposal Trustee dated July 12, 2023 |
| 8 | Unsecured | Health Canada · in 23 casesas of NOI filing date — Outstanding licensing fees and costs — debtor: OGEN Ltd. and OGEN Holdings Ltd. | $494K | First Report of the Proposal Trustee dated July 12, 2023 |
| 8 | Unsecured | Canada Revenue Agency (CRA) - sales tax · in 926 casesas of NOI filing date — debtor: OGEN Ltd. and OGEN Holdings Ltd. | $210K | First Report of the Proposal Trustee dated July 12, 2023 |
Unsecured creditors: $1.01M. CFCU $25K.Under the plan · vote pendingProposal Report to creditors · 8 Sep 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Preferred | — | — | paid in full | Under the planvote pendingper the debtor | Proposal · 1 Sep 2023 |
| Unsecured | — | — | $1.01M | Under the planvote pendingper the proposal trustee | Proposal Report to creditors · 8 Sep 2023 |
| Unsecured | CFCU | — | $25K | Under the planvote pendingper the debtor | Proposal · 1 Sep 2023 |
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.
As at 31 Jul 2023 · per book value, unaudited internal financial information provided by the Companies · combined entity-level figures for OGEN Ltd. and OGEN Holdings Ltd. — Assets by category: Accounts receivable 1,370; Inventory 8,052; Prepaid expenses and other current assets 679; Property and equipment, net of depreciation 28,205 (Total 38,306, $000s). Liabilities by category: Overdraft Account 581; Accounts Payable 7,000; GST Payable 270; CFCU Term Loans 20,649 (Total 28,500, $000s). Both stated as book values as at July 31, 2023.
| Date | Document | File |
|---|---|---|
Court Order dated November 3, 2023
| ||
| Proposal Mailing to Creditors dated September 8, 2023 | ||
Proposal Report to creditors dated September 8, 2023
| ||
| Convenient Creditor Election Form | ||
Proposal dated September 1, 2023
| ||
| Stay Extension and Consolidation Order dated July 24, 2023 - Ogen Holdings Ltd. | ||
| Stay Extension and Consolidation Order dated July 24, 2023 - Ogen Ltd. | ||
Application returnable July 21, 2023
| ||
| Bench Brief of OGEN Ltd. and OGEN Holdings Ltd. filed July 19, 2023 | ||
First Report of the Proposal Trustee dated July 12, 2023
| ||
| Affidavit of Darren Brisebois sworn July 10, 2023 | ||
| Certificate of Filing a Notice of Intention to Make a Proposal dated June 26, 2023 - OGEN Holdings Ltd. | ||
| Certificate of Filing a Notice of Intention to Make a Proposal dated June 26, 2023 - OGEN Ltd. | ||
| Proof of Claim Form | ||
| Voting Letter | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “OGEN Ltd. and OGEN Holdings Ltd.” (NOI), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/ogen-ltd-and-ogen-holdings-ltd