Phenomenome Discoveries Inc. & Phenomenome Laboratory Services Inc.
Follow- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- Q.B. ____ of 2015
Phenomenome Discoveries Inc. and Phenomenome Laboratory Services Inc. were placed in court-appointed receivership on 26 November 2015 by order of Mr. Justice B. J. Scherman, sitting in the Court of Queen's Bench for Saskatchewan in Bankruptcy and Insolvency, under s. 243 of the BIA and provincial Judicature Act authority. PDI's unaudited consolidated statements as at 30 November 2015 showed assets of $4,042,000 against liabilities of $20,880,000, shareholders' equity of $(16,838,000), and operating losses of $3.2 million for the eight months then ended. Of those liabilities, $12,913,000 was deferred revenue tied to a sale of certain of PDI's revenue streams to a third party. Golden Opportunities Fund Inc., which holds security, was owed $833,000 in principal plus $263,552.16 in accrued interest as at 10 November 2015, and advanced interim financing of $250,000 against an authorized $650,000. The proceedings are closed.
46 earlier updates, back to 26 November 2015 — subscribers.
Debtor
Phenomenome Discoveries Inc. & Phenomenome Laboratory Services Inc.
Receiver
FTI
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Scherman | Court of King's Bench for Saskatchewan | 7 orders, Dec 2015 – Apr 2016 | 9 cases on record |
| Justice Rothery | Court of King's Bench for Saskatchewan | 2 orders, Aug 2016 – Mar 2019 | 14 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorPhenomenome Discoveries Inc. & Phenomenome Laboratory Services Inc. | Robertson Stromberg LLP · Stevenson Hood Thornton Beaubier LLP | 23 Nov 2015 | Order · 18 Jan 2016 |
| CreditorGolden Opportunities Fund Inc | MacPHERSON LESLIE & TYERMAN LLP | 23 Nov 2015 | Application · 23 Nov 2015 |
| CreditorInnovation Place Saskatchewan Opportunities Corporation | McKercher LLP | 18 Jan 2016 | Order · 18 Jan 2016 |
| CreditorYolbolsum Canada Inc | Bennett Jones LLP | 22 Aug 2016 | Application · 22 Aug 2016 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Golden Opportunities Fund Inc. (“GOFI”)a security interest — “As at November 10, 2015 the indebtedness of PDI to GOFI, for which it holds a security interest, was $833,000 in principal, plus $263,552.16 in accrued interest, with additional interest accrued and accruing thereon” — AMOUNT NOT REPORTED BECAUSE THE DOCUMENT STATES COMPONENTS, NOT A TOTAL: $833,000 principal and $263,552.16 accrued interest, with interest still accruing, and no combined figure given. The balance sheet carries a DIFFERENT and differently-based figure — “Current portion of Golden Opportunities debenture” at $1,103 thousand as at November 30, 2015, which i · as of 10 Nov 2015 | — | First Report of the Interim Receiver |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Med-Life Discoveries LP (MLD): a distribution.Fifth Report of the Receiver · 12 Mar 2019
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredMLD (secured claim pursuant to the Receiver's Borrowing Charge) | Med-Life Discoveries LP (MLD) | — | a distributioninterim | per the receiver | Fifth Report of the Receiver · 12 Mar 2019 |
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.
3 engagements · 3 firms — latest: Blake, Cassels & Graydon LLP, 1 Apr 2016 – 28 Feb 2019Fifth Report of the Receiver · 12 Mar 2019
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Blake, Cassels & Graydon LLPCounsel | 1 Apr 2016 – 28 Feb 2019 | — | — | — | Fifth Report of the Receiver · 12 Mar 2019 |
| FTI Consulting Canada Inc.Receiver | 4 Dec 2015 – 28 Feb 2019 | — | — | — | Fifth Report of the Receiver · 12 Mar 2019 |
| KMP Law Northcapacity not stated | 1 Apr 2016 – 28 Feb 2019 | — | — | — | Fifth Report of the Receiver · 12 Mar 2019 |
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| Date | Document | File |
|---|---|---|
| Receiver's Certificate filed April 29, 2021 | PDF · Subscribers | |
Order (Distribution and Discharge of Receiver)
| PDF · Subscribers | |
Fifth Report of the Receiver
| PDF · Subscribers | |
Notice of Application (Distribution and Discharge of Receiver)
| PDF · Subscribers | |
| Receiver's Certificate | PDF · Subscribers | |
Order (Approval of Increased Receiver's Borrowing Charge)
| PDF · Subscribers | |
Application without Notice
| PDF · Subscribers | |
| Fourth Report of Receiver | PDF · Subscribers | |
| Notice of Application | PDF · Subscribers | |
| Approval and Vesting Order | PDF · Subscribers | |
Approval of Receiver's Borrow Charge
| PDF · Subscribers | |
Order
| PDF · Subscribers | |
| Sealing Order | PDF · Subscribers | |
| Notice of Application - Sealing Order | PDF · Subscribers | |
Notice of Application - Short Service
| PDF · Subscribers | |
| Receiver's Third Report | PDF · Subscribers | |
| Supplement to the Third Report of the Receiver | PDF · Subscribers | |
| Letter to Service List re: Sealing Order of Mr. Justice Allbright | PDF · Subscribers | |
| Order for Sealing Materials | PDF · Subscribers | |
Order for Abridged Service
| PDF · Subscribers | |
| Receiver's Second Report | PDF · Subscribers | |
Service List (updated July 5, 2016)
| PDF · Subscribers | |
Approval of Sales Process and Receiver's Borrowing Charge April 26, 2016
| PDF · Subscribers | |
Approval of Sales Process, KERP and Receiver's Borrowing Charge April 15, 2016
| PDF · Subscribers | |
| Letter to Justice Meschishnick | PDF · Subscribers | |
| Receiver's First Report | PDF · Subscribers | |
Short Service Order
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
| Supplementary Affidavit of Douglas Banzet - Sworn on February 24, 2016 | PDF · Subscribers | |
| February 23, 2016 Letter to Court of Queen's Bench | PDF · Subscribers | |
| Affidavit of Douglas Banzet - Sworn on February 22, 2016 | PDF · Subscribers | |
| February 22, 2016 Letter to Court of Queen's Bench | PDF · Subscribers | |
| Second Report of the Interim Receiver | PDF · Subscribers | |
Consent Order (Second Extension of Interim Receivership Order)
| PDF · Subscribers | |
First Report of the Interim Receiver
| PDF · Subscribers | |
Notice of Application - Extension of Interim Receivership Order
| PDF · Subscribers | |
Approval of Second Interim Financing Term Sheet
| PDF · Subscribers | |
Order (Extension of Interim Receivership Order and Approval of Interim Financing Term Sheet)
| PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
Interim Receivership Order
| PDF · Subscribers | |
| Affidavit of Barry Bridges - Sworn on November 23, 2015 | PDF · Subscribers | |
| Affidavit of Craig Bell - Sworn on November 23, 2015 | PDF · Subscribers | |
| Affidavit of David Dube - Sworn on November 23, 2015 | PDF · Subscribers | |
| Affidavit of Gavin Preston | PDF · Subscribers | |
| Affidavit of Peter Blaney - Sworn on November 23, 2015 | PDF · Subscribers | |
Application for Appointment of Receiver
| PDF · Subscribers | |
| Brief of Law on Behalf of Golden Opportunities Fund Inc. | PDF · Subscribers | |
| Consent to Act - FTI Consulting | PDF · Subscribers | |
Draft Receivership Order
| 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., “Phenomenome Discoveries Inc. & Phenomenome Laboratory Services Inc.” (Receivership (court-appointed)), Court of King's Bench for Saskatchewan. Retrieved 20 September 2026, https://proceedings.ca/case/phenomenome-discoveries-inc-phenomenome-laboratory-services-inc