OGEN Ltd. and OGEN Holdings Ltd.
- Proceeding
- NOIBankruptcy and Insolvency Act, RSC 1985, c. B-3, as amended
- File
- 25-2958981, 25-2958977
- Industry
- Cannabis · Cannabis producers
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.
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
Undated filings2 — no date appears on the document · show
Debtor
OGEN Ltd. and OGEN Holdings Ltd.
Proposal trustee
KSV
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Connect First Credit Union Ltd. (CFCU) · in 9 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 | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
5 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution. CFCU a distribution.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 | — | — | Under the planvote pendingper the proposal trustee | Proposal Report to creditors · 8 Sep 2023 | |
| Unsecured | CFCU | — | 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.
2 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Court Order dated November 3, 2023
| PDF · Subscribers | |
| Proposal Mailing to Creditors dated September 8, 2023 | PDF · Subscribers | |
Proposal Report to creditors dated September 8, 2023
| PDF · Subscribers | |
| Convenient Creditor Election Form | PDF · Subscribers | |
Proposal dated September 1, 2023
| PDF · Subscribers | |
| Stay Extension and Consolidation Order dated July 24, 2023 - Ogen Holdings Ltd. | PDF · Subscribers | |
| Stay Extension and Consolidation Order dated July 24, 2023 - Ogen Ltd. | PDF · Subscribers | |
Application returnable July 21, 2023
| PDF · Subscribers | |
| Bench Brief of OGEN Ltd. and OGEN Holdings Ltd. filed July 19, 2023 | PDF · Subscribers | |
First Report of the Proposal Trustee dated July 12, 2023
| PDF · Subscribers | |
| Affidavit of Darren Brisebois sworn July 10, 2023 | PDF · Subscribers | |
| Certificate of Filing a Notice of Intention to Make a Proposal dated June 26, 2023 - OGEN Holdings Ltd. | PDF · Subscribers | |
| Certificate of Filing a Notice of Intention to Make a Proposal dated June 26, 2023 - OGEN Ltd. | PDF · Subscribers | |
| Proof of Claim Form | PDF · Subscribers | |
| Voting Letter | 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., “OGEN Ltd. and OGEN Holdings Ltd.” (NOI), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/ogen-ltd-and-ogen-holdings-ltd