Synaptive Medical Inc.

Precedent note

Synaptive: the employer nobody worked for

Synaptive's reverse vesting order moved 48 terminated employees' contracts into a company that had never employed anyone, and that company then went bankrupt. The Attorney General argued this meant no Wage Earner Protection benefits, because nobody had ever worked there. On July 7 Justice Dietrich held that a court order is itself enough to form the employment relationship.

12 July 2026

Filing brief

Synaptive: out of CCAA in June, into receivership by April

A Toronto medical device company emerged from a CCAA reverse vesting transaction on June 26, 2025. Ten months later a receiver was appointed on consent. Every Canadian director and employee has now gone, and the receiver has re-engaged some of them as contractors to keep the patents renewed. The proposed buyer is a group of former managers, funding the sale process that will sell the company to them.

13 May 2026