Proceedings.

Synaptive Medical Inc.

ActiveFollow
Proceeding
CCAAsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
File
CL-26-00000173-0000
Filings held106
Last activity26 Oct 2026
On the record596 days
Secured debtSubscribers
OverviewSummary updated

Synaptive Medical Inc. has been under CCAA protection since March 19, 2025. The stay, first set to expire March 26, 2025 and later June 20, 2025, has been extended to September 30, 2025; orders were made on March 19, March 26, June 18 and June 26, 2025, and again on July 10, 2026, with a claims bar date of August 5, 2026. As at December 31, 2024, the Synaptive group reported consolidated book-value liabilities of US$130,672,208, comprising current liabilities of US$28,462,646, long-term debt of US$94,700,562 and lease liabilities of US$7,509,000. Export Development Canada, the senior secured lender and post-filing DIP lender, is owed US$6,020,000 under the Espresso facility assigned to it in 2023, which ranks first, and holds the largest share of the US$59,778,028 EDC Convertible Notes.

Claims processIf you are owed money

The claims bar date has passed — claims were due by

Per the Amended and Restated Order (Distribution and Claims Procedure) – dated – October 26,2026 dated 26 October 2026.

Ask in plain language. The answer comes only from this case’s filings, each one cited.
Enter to send · Shift+Enter for a new line
Open this case in Proceedings AI⁠Save your chats, keep long conversations going, and ask across every case.
Case updates107 dated entries
#Sale

Approval and reverse vesting order granted approving the Globus Medical subscription agreement, the Prescribed Shares to vest on delivery of the Receiver's Certificate, with excluded assets to ResidualCo 1001665935 Ontario Inc.

Source: Approval and Reverse Vesting Order

#Report

Second Report recommended approval of the June 30, 2026 subscription agreement with Globus Medical Inc., designated the Successful Bid after an auction, and reported receipts of approximately $1.9 million to June 26.

Source: Second Report of the Receiver

#Order

SISP approved, with the stalking horse agreement approved solely for the purpose of acting as stalking horse bid; sale approval left to a subsequent motion.

Source: SISP Approval Order

#Report

First Report described the termination of employees, securing of the premises and engagement of six former employees as contractors, and recommended a SISP with the stalking-horse agreement with 1001599818 Ontario Inc.

Source: First Report of the Receiver Richter Inc.

#Order

On the application of Export Development Canada under s. 243(1) of the Bankruptcy and Insolvency Act and s. 101 of the Courts of Justice Act, Richter Inc. was appointed receiver and manager.

Source: Order (Appointing Receiver)

#Sale

Approval and reverse vesting order granted approving the June 12, 2025 subscription agreement with 1001253954 Ontario Inc. for 100% of Synaptive's equity, vesting on delivery of the Monitor's certificate.

Source: Order (Approval and reverse Vesting Order)

#Order

CCAA proceedings commenced in the Ontario Superior Court of Justice (Commercial List) under court file CV-25-00739279-00CL, with Richter Inc. appointed monitor and a stay running to March 26, 2025.

Source: Initial Order

Case update

Synaptive: the receiver asks to pay the employees directly

Richter asks the court on October 26 to pay the employees it terminated their estimated $116,409 priority directly rather than hold it for ESDC, which has denied their wage-program claims. Its Third Report discloses $12.6 million of Globus deal proceeds; the motion seeks a declaration that Pacer Air Freight's $3 million claim passed to the residual company.

Guide

What happens to employees when a company goes bankrupt in Canada

When a Canadian employer goes bankrupt or into creditor protection, its workers are owed pay it cannot meet. What ranks first, what the Wage Earner Protection Program pays and how to apply, and what happens to severance, pensions, benefits and jobs when the business is sold, drawn from the court record.

Case update

Synaptive: 48 applications on hold, and a second group denied

As the Attorney General seeks leave to appeal the July 7 ruling that Synaptive's ResidualCo is a former employer under WEPPA, the 48 employees it covers, owed $903,417.03, say their applications are being held unprocessed, and a second group has been denied because a later reverse vesting order moved their wages elsewhere.

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.

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.

Parties

Debtor

Synaptive Medical Inc.

Monitor

Richter

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice DietrichOntario Superior Court of Justice17 orders, Jun 2025 – Oct 2026132 cases on record
Justice OsborneOntario Superior Court of Justice7 orders, Mar 2025 – Apr 2025168 cases on record

Counsel of record

PartyCounselFirst seenSource
MonitorRichterMcMillan LLP18 Jun 2025Application · 16 Jun 2025
ApplicantExport Development CanadaFasken Martineau DuMoulin LLP27 Aug 2025Service list · 30 Jun 2026
DebtorSynaptive Medical Inc.Torys LLP18 Mar 2025Factum · 18 Mar 2025
CreditorBDC Capital IncChaitons LLP27 Aug 2025Service list · 27 Aug 2025
CreditorChristine KedziorShulman Bastian Friedman Bui & O'Dea LLP30 Jun 2026Service list · 30 Jun 2026
CreditorChristopher MarrusReed Smith LLP30 Jun 2026Service list · 30 Jun 2026
CreditorExport Development CanadaFasken Martineau DuMoulin LLP27 Apr 2026Factum · 27 Apr 2026
CreditorGeneral of CanadaMcMillan LLP28 Jul 2026Application · 28 Jul 2026
CreditorGlobus Medical IncBorden Ladner Gervais LLP30 Jun 2026Service list · 30 Jun 2026
CreditorHealth Care Solutions IncWishart Law Firm LLP30 Jun 2026Service list · 30 Jun 2026
CreditorHeritage Property Investments IncFridmar Professional Corporation30 Jun 2026Service list · 30 Jun 2026
CreditorLeanne M. WilliamsThornton Grout Finnigan LLP27 Aug 2025Service list · 27 Aug 2025
CreditorPacer Air Freight LimitedLang Michener LLP (now McMillan LLP)30 Jun 2026Service list · 30 Jun 2026
CreditorPacer Air Freight LtdLang Michener LLP (now McMillan LLP)23 Oct 2026Application · 23 Oct 2026
CreditorPiret (Skymark Satellite) Holdings IncCamelino Galessiere LLP27 Aug 2025Service list · 27 Aug 2025
CreditorRichard GoldglassKoskie Minsky LLP · McMillan LLP1 Mar 2026Application · 28 Jul 2026
CreditorRichmond Street West (555) IncAird & Berlis LLP27 Aug 2025Service list · 27 Aug 2025
CreditorStrykerMiller, Canfield, Paddock And Stone, Plc30 Jun 2026Service list · 30 Jun 2026
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
#Priority classCreditorAmountSource
4SecuredEDC and other holders listed in Exhibit “L”Security interest in substantially all personal property granted to each noteholder — EDC Convertible Notes; ranks Second priority. EDC acted as lead investor advancing an aggregate principal of $40,000,000 (original advance, not a balance); 75 notes totalling $49,684,800 issued in aggregate to various investors per Exhibit L — debtor: Synaptive Medical Inc. · as of 10 Mar 2025$59.8M USDApplication Record
4Secured
4Secured
4Secured
4Secured
4Secured
5PMSI / lessors
8Unsecured
8Unsecured
8Unsecured

10 more claims in 3 classes The stack holds Secured, PMSI / lessors and Unsecured claims.

Every creditor and every amount, drawn to scale.

Start 5-day trial

Card required. Nothing charged for 5 days. Cancel anytime.

Already a subscriber? Sign in.

See all plans⁠
Sale processAs stated in the filings

3 transactions · 2 closed · 1 not completed — The Transaction with Globus Medical Inc. closed on August 4, 2026 following the ARVO granted July 10, 2026.Third Report of the Receiver, Richter Inc. – dated October 15, 2026 · 15 Oct 2026

PurchaserPriceStatusSource
1001253954 Ontario Inc.the Subscribed Shares, and vesting in the Purchaser, all right, title and interest in and to the Subscribed Shares · share sale · agreement 12 Jun 2025SubscribersClosed26 Jun 2025Fourth Report of the Monitor, Richter Inc.
1001599818 Ontario Inc.Stalking horseinvest in the Debtor's Business through a proposed reverse-vesting structure · share subscription · agreement 7 May 2026SubscribersNot completedSecond Report of the Receiver
Globus Medical Inc.the Subscribed Shares · share subscription · ResidualCo: 1001665935 Ontario Inc. · agreement 30 Jun 2026SubscribersClosed4 Aug 2026outside 30 Jun 2026Third Report of the Receiver, Richter Inc. –…
AdvisorsRoyal Bank of Canada (financial advisor)First Report of the Monitor Richter Inc.
Closing termsVesting occurs upon delivery of the Receiver's Certificate confirming satisfaction of closing conditions, in a defined Closing Sequence.Approval and Reverse Vesting Order
Sealed materialsConfidential Bid Summary; Confidential Supplement to the Second ReportOrder (Approval and reverse Vesting Order)
RecoveriesAs stated in the filings

Unsecured creditors: no distribution.Responding Factum (Re Responding to the Attorney General of Canada’s… · 21 Sep 2026

ClassCreditorClaimsRecoveryBasisSource
PreferredTerminated Employees (priority claims under ss. 81.3 and 81.4 of the BIA)estimatedEstimatedResponding Factum (Re Responding to the Attorney General of Canada’s… · 21 Sep 2026
Unsecured——no distribution—Responding Factum (Re Responding to the Attorney General of Canada’s… · 21 Sep 2026

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.

Start 5-day trial

Card required. Nothing charged for 5 days. Cancel anytime.

Already a subscriber? Sign in.

See all plans⁠
Fees and ratesAs stated in the filings

4 engagements · 1 firm — latest: McMillan LLP, to 30 Apr 2026, incl. HSTMotion Record (Motion for Fee Approval · 2 Jun 2026

FirmPeriodHoursFeesRatesSource
McMillan LLPCounsel to the monitorperiod 4 of 4to 30 Apr 20264 peopleMotion Record (Motion for Fee Approval · 2 Jun 2026
4 people — McMillan LLP, to 30 Apr 2026 · 12 blurred figures
NameTitleHoursRateFees
Tushara N. WeerasooriyaFinancial Services—
Jeffrey LevineAdvocacy & Employment—
Stephen Brown-OkruhlikAdvocacy & Employment—
Jasmine LandauAdvocacy & Employment—
McMillan LLPCounsel to the monitorperiod 3 of 4to 28 Feb 20264 peopleMotion Record (Motion for Fee Approval · 2 Jun 2026
4 people — McMillan LLP, to 28 Feb 2026 · 12 blurred figures
NameTitleHoursRateFees
Tushara N. WeerasooriyaFinancial Services—
Tushara N. WeerasooriyaFinancial Services—
Stephen Brown-OkruhlikAdvocacy & Employment—
Stephen Brown-OkruhlikAdvocacy & Employment—
McMillan LLPCounsel to the monitorperiod 2 of 4to 31 Oct 20257 peopleMotion Record (Motion for Fee Approval · 2 Jun 2026
7 people — McMillan LLP, to 31 Oct 2025 · 21 blurred figures
NameTitleHoursRateFees
Tushara N. WeerasooriyaFinancial Services—
Andrew StirlingTax—
Stephen Brown-OkruhlikAdvocacy & Employment—
Paul BoshykAdvocacy & Employment—
Émile Catimel-MarchandFinancial Services—
Spencer KlugFinancial Services—
Imran SheikhAdvocacy & Employment—
McMillan LLPCounsel to the monitorperiod 1 of 4the Fee Period9 peopleMotion Record (Motion for Fee Approval · 2 Jun 2026
9 people — McMillan LLP, the Fee Period · 18 blurred figures
NameYear of callHoursRateFees
Tushara N. Weerasooriya2005—
Jeffrey Levine2008—
Tushara N. Weerasooriya2005—
Stephen Brown-Okruhlik2014—
Stephen Brown-Okruhlik2014—
Paul Boshyk2012—
Émile Catimel-Marchand2016—
Jasmine Landau2018—
Spencer Klug2023—

75 blurred figures above

What the firm billed, and each person’s hours and rate — each as the filing states it, with its source.

Start 5-day trial

Card required. Nothing charged for 5 days. Cancel anytime.

Already a subscriber? Sign in.

See all plans⁠
Estate financialsReported figures — never derived
Total assets at filing

As at ·

Cumulative receipts

$14.6M

As at 15 Oct 2026Third Report of the Receiver, Richter Inc. – dated October 15, 2026

Cumulative disbursements

As at

Professional fees

As at

2 more reported figures, and the total the debtor stated at filing

Each one as the filing states it, with its source.

Start 5-day trial

Card required. Nothing charged for 5 days. Cancel anytime.

Already a subscriber? Sign in.

See all plans⁠
Documents
106 filings
DateDocumentFile
Amended and Restated Order (Distribution and Claims Procedure) – dated – October 26,2026
  • Claims bar date 5 August 2026
  • Counsel McMILLAN LLP
  • Order date 26 October 2026
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Distribution and Ancillary Order – dated October 26, 2026
  • Counsel McMILLAN LLP
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Factum of Pacer Air Freight Ltd. – Motion for Distribution and Discharge Order – dated October 23, 2026
  • Counsel Lang LLP
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Factum of the Defendant, Synaptive Medical Inc.- dated October 23, 2026PDF · Subscribers
Responding Motion Record of Pace Air Freight Ltd. – dated October 22, 2026PDF · Subscribers
Motion Record of the Defendant, Synaptive Medical Inc. – Volume 1 of 2 – dated October 21, 2026
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Motion Record of the Defendant, Synaptive Medical Inc. – Volume 2 of 2 – dated October 21, 2026
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Factum of the Receiver -Motion for Distribution and Discharge Order – dated October 20, 2026
  • Counsel McMILLAN LLP
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Motion Record of the Receiver (Distribution and Discharge Order) – dated October 15, 2026
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Third Report of the Receiver, Richter Inc. – dated October 15, 2026
  • Closing confirmed Closed · 4 Aug 2026 · Globus Medical Inc.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 10 more extracted facts
PDF · Subscribers
Responding Factum (Re Responding to the Attorney General of Canada’s Motion for Leave to Appeal) – dated September 21,2026
  • Recovery outcome Entries: per estimated; per estimated; per unstated · Table missing:
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Responding Motion Record (Re Responding to the Attorney General of Canada’s Motion for Leave to Appeal) – dated September 21, 2026
  • Counsel Koskie Minsky LLP
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Notice of Motion for Leave to Appeal to the Court of Appeal for Ontario
  • Counsel McMillan LLP
PDF · Subscribers
Approval and Reverse Vesting Order
  • Closing terms Vesting occurs upon delivery of the Receiver's Certificate confirming satisfaction of closing conditions, in a defined Closing Sequence.
  • Counsel McMILLAN LLP
  • Order date 10 July 2026
  • Presiding officer Justice J. Dietrich
  • + 5 more extracted facts
PDF · Subscribers
Order- (Distribution and Claims Procedure)
  • Claims bar date 5 August 2026
  • Counsel McMILLAN LLP
  • Order date 10 July 2026
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Brief of Additional Authorities of the Receiver (Sale approval and Distribution and Claims Procedure Motion)
  • Order date 26 June 2025
  • Presiding officer Justice Martin F. Sheehan
PDF · Subscribers
First Supplement to the Second Report of the Receiver -dated July 8 2026
PDF · Subscribers
Order- (Wage Earner Protection) – dated July 7, 2026
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Wage Earner Protection Program (WEPP) Reasons for Decision by Justice J. Dietrich
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Factum of the Receiver (Motion for Sale Approval and Reverse Vesting Order)
  • Counsel McMILLAN LLP
PDF · Subscribers
Motion Record of the Receiver (Sale Approval and Distribution and Claims Procedure)PDF · Subscribers
Second Report of the Receiver
  • Operational summary Synaptive has been placed in receivership; all 72 Canadian employees were terminated, and the Receiver is securing premises and assets, selling consumable inventory as is, where is, and maintaining patents and regulatory matters. The SISP has concluded in a proposed reverse vesting sale of 100% of the equity to Globus Medical, Inc., with Closing targeted by July 31, 2026.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 7 more extracted facts
PDF · Subscribers
Service List – (as of June 30 2026)
  • Counsel Camelino Galessiere LLP
PDF · Subscribers
Factum of the Monitor – (Motion for Fee Approval, returnable June 10, 2026) – dated June 2 2026
  • Counsel McMillan LLP
PDF · Subscribers
Motion Record (Motion for Fee Approval, returnable June 10, 2026)
PDF · Subscribers
Reply Book of Authorities of Richard Goldglass and Other Terminated EmployeesPDF · Subscribers
Reply Factum of Richard Goldglass and other Termnated Employees ( Motion for WEPP Relief, returnable June 10, 2026)
  • Counsel Koskie Minsky LLP
PDF · Subscribers
Third Supplementary Responding Motion Record of Richard Goldglass and Other Terminated Employees (Motion for WEPP Relief, returnable June 10, 2026)
  • Counsel Koskie Minsky LLP
PDF · Subscribers
Responding Supplemental Factum of the Attorney General of CanadaPDF · Subscribers
Responding Supplemental Record of the Attorney General of Canada (Volume 1 of 4 – Motion returnable June 10, 2026)PDF · Subscribers
Responding Supplemental Record of the Attorney General of Canada (Volume 2 of 4 – Motion returnable June 10, 2026) – dated May 27,2026PDF · Subscribers
Responding Supplemental Record of the Attorney General of Canada (Volume 3 of 4 – Motion returnable June 10, 2026)PDF · Subscribers
Responding Supplemental Record of the Attrorney General of Canda (Volume 4 of 4 – Motion returnable June 10, 2026)PDF · Subscribers
Supplemental Book of Authorities of the Attorney General of CanadaPDF · Subscribers
Second Supplementary Responding Motion Record of Richard Goldglass and other Terminated Employees (Motion for WEPP Relief, returnable June 10, 2026)
  • Counsel Koskie Minsky LLP
PDF · Subscribers
Supplementary Book of Authorities of Richard Goldglass and other Terminate EmployeesPDF · Subscribers
Supplementary Factum – Richard Goldglass and Other Terminated Employees (Motion for WEPP Relief, returnable June 10, 2026)
  • Counsel Koskie Minsky LLP
PDF · Subscribers
Counsel Endorsement Slip
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
REVISED MILESTONE
  • Bid deadline 10 June 2026
  • Outside date 30 June 2026
  • Break fee · Stalking horse Subscribers
PDF · Subscribers
Receivership Order (Amended and Restated)
  • Counsel FASKEN MARTINEAU DuMOULIN LLP
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
SISP Approval Order
  • Bid deadline 5 June 2026
  • Counsel McMILLAN LLP
  • Order date 13 May 2026
  • Break fee Subscribers
  • + 5 more extracted facts
PDF · Subscribers
Factum of the Receiver (SISP Approval Motion)
  • Counsel McMILLAN LLP
PDF · Subscribers
First Report of the Receiver Richter Inc.
  • Operational summary Synaptive furloughed 90 of its employees in April 2026 leaving four for baseline operations, and its directors have since resigned. The Receiver terminated employees, secured the premises, engaged six former employees as short-term contractors for accounting and patent maintenance, and is preparing a stalking-horse SISP.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 8 more extracted facts
PDF · Subscribers
Motion Record of the Receiver (Sale and Investment Solicitation Process Approval Motion) – dated May 8, 202PDF · Subscribers
Notice and Statement of the Receiver
PDF · Subscribers
Counsel Endorsement Slip – dated May 5, 2026
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Aide Memoire of Synaptive Medical Inc. dated May 1, 2026PDF · Subscribers
Aide Memoire of Richard Goldglass and other terminated employees of Synaptive Medical Inc. datedPDF · Subscribers
Counsel Endorsement Slip – dated April 28, 2026
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Order (Appointing Receiver)
  • Applicant Export Development Canada
  • Appointee Richter Inc.
  • Appointee role receiver and manager
  • Commencement date 28 April 2026
  • + 5 more extracted facts
PDF · Subscribers
Factum of the Applicant – Export Development Canada
  • Counsel FASKEN MARTINEAU DuMOULIN LLP
PDF · Subscribers
Pre-filing Report of the Proposed Receiver Richter Inc.PDF · Subscribers
Application Record (Volume 1 of 2) – (Appointing Receiver) dated April 24, 2026PDF · Subscribers
Application Record (Volume 2 of 2) (Appointing Receiver)PDF · Subscribers
Counsel Endorsement Slip – dated March 2, 2026
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Aide Memoire of Richard Goldglass and other Terminated Employees of Synaptive Medical Inc.
  • Counsel Koskie Minsky LLP
PDF · Subscribers
Reply Factum of the Attorney General of Canada-(motion returnable November 12, 2025)PDF · Subscribers
Supplementary Book of Authorities of the Attorney General of Canada (Motion returnable November 12, 2025)PDF · Subscribers
Book of Authorities of the Attorney General of Canada (Motion returnable November 12, 2025)PDF · Subscribers
Factum of the Attorney General of Canada (Motion returnable November 12, 2025)PDF · Subscribers
Supplemental Report to the Fourth Report of the Monitor Richter Inc.PDF · Subscribers
Amended Motion Record (Motion for WEPP Relief) – dated October 17 2025PDF · Subscribers
Factum – Motion for WEPP Relief
  • Counsel Torys LLP
PDF · Subscribers
Amended Motion Record – (Motion for WEPP Relief)PDF · Subscribers
Notice of AppearancePDF · Subscribers
Responding Motion Record of Richard Goldglass and other Terminated EmployeesPDF · Subscribers
Responding Motion Record of the Attorney General of CanadaPDF · Subscribers
Notice of Motion (Motion for WEPP Relief returnable November 12, 2025)PDF · Subscribers
Service List
  • Counsel Aird & Berlis LLP
PDF · Subscribers
Counsel Endorsement Slip – dated August 6, 2025
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Order (CCAA Termination and Scheduling Order)
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Fourth Report of the Monitor, Richter Inc.
  • Closing confirmed Closed · 26 Jun 2025 · 1001253954 Ontario Inc.
  • Process results 228 solicited · 24 NDAs · 6 LOIs · 3 qualified bids · 1 bids · as of 14 Jun 2025
  • Purchaser 1001253954 Ontario Inc. · 100% of the equity of Synaptive through a reverse vesting order structure · share sale · closed
  • Sale outcome Sale closed — The Transaction closed on June 26, 2025 in accordance with the ARVO and Subscription Agreement
  • + 1 more extracted fact
PDF · Subscribers
Motion Record (Motion for CCAA Termination and Scheduling Order, returnable August 6, 2025)PDF · Subscribers
Monitor’s CertificatePDF · Subscribers
Counsel Slip Endorsement
  • Presiding officer Justice J. Dietrich
PDF · Subscribers
Order (Approval and reverse Vesting Order)
  • Closing terms Effective Time upon delivery of Monitor's Certificate confirming satisfaction/waiver of closing conditions
  • Order date 18 June 2025
  • Presiding officer Justice J. Dietrich
  • Purchaser 1001253954 Ontario Inc. · the Subscribed Shares, and vesting in the Purchaser, all right, title and interest in and to the Subscribed Shares · share subscription · approved
  • + 4 more extracted facts
PDF · Subscribers
Order (Stay Extension and Fee Approval)
  • Counsel Torys LLP
  • Order date 18 June 2025
  • Presiding officer Justice J. Dietrich
  • Stay extended to 30 September 2025
PDF · Subscribers
Aide Memoire of the Attorney General of Canada (regarding Applicant’s sought relief related to the WEPP) – dated June 17 2025PDF · Subscribers
Factum of the Applicant (Motion for Approval and Vesting Order and Stay Extension and Termination Order, returnable June 18, 2025) – dated June 16 2025
  • Counsel Torys LLP
PDF · Subscribers
Factum of the Monitor (Motion for Approval and Reverse Vesting Order and Stay Extension and Termination Order, returnable June 18, 2025)
  • Counsel McMillan LLP
PDF · Subscribers
Third Report of the Monitor Richter Inc. – dated June 14.2025
  • Process results 228 solicited · 24 NDAs · 6 LOIs · 3 qualified bids · 1 bids · as of 27 May 2025
  • Purchaser 1001253954 Ontario Inc. · 100% of the equity of Synaptive through a reverse vesting order structure · share sale · proposed
  • Sale outcome Approval pending — Monitor recommends the Court approve the Transaction and grant the ARVO; the Subscription Agreement has been entered into but not yet closed.
  • Stalking horse Subscribers
PDF · Subscribers
Motion Record -(Motion for Approval and Reverse Vesting Order and Stay Extension and Termination Order, returnable June 18, 2025)PDF · Subscribers
Redline Subscription Agreement (redacted)PDF · Subscribers
Subscription Agreement (redacted)PDF · Subscribers
Revised Key Milestones under the SISPPDF · Subscribers
Counsel Endorsement Slip – dated April 25, 2025
  • Presiding officer Justice Osborne
PDF · Subscribers
Kerp Approval Order
  • Counsel Torys LLP
  • Presiding officer Justice Osborne
PDF · Subscribers
Factum of the Applicant (Motion for KERP Approval Order returnable April 25, 2025)
  • Counsel Torys LLP
PDF · Subscribers
Second Report of the Monitor Richter Inc.
  • Sale outcome Sale process approved — SISP being advanced by the Monitor, with Teaser Letter provided to Potential Bidders and NDAs being negotiated; no transaction selected yet
  • Stalking horse Subscribers
PDF · Subscribers
Notice of Motion (Motion for KERP Approval Order returnable April 25 2025)PDF · Subscribers
Notice of Wage Earner Protection Program Act (WEPP)PDF · Subscribers
Counsel / Endorsement Slip- dated March 30, 2025
  • Presiding officer Justice Osborne
PDF · Subscribers
Amended and restated Initial Order – dated March 26 2025
  • Counsel Torys LLP
  • Order date 26 March 2025
  • Presiding officer Justice Osborne
  • Stay expiry 20 June 2025
PDF · Subscribers
Counsel / Endorsement Slip
  • Presiding officer Justice Osborne
PDF · Subscribers
Creditor’s listPDF · Subscribers
Notice to Creditors of Initial OrderPDF · Subscribers
SISP Approval Order – dated March 26 2025
  • Bid deadline 30 April 2025
  • Order date 26 March 2025
  • Outside date 20 June 2025
  • Presiding officer Justice Osborne
  • + 2 more extracted facts
PDF · Subscribers
Factum of the Applicant (Motion for Amended and Restated Initial Order and SISP Approval Order)
  • Counsel Torys LLP
PDF · Subscribers
First Report of the Monitor Richter Inc.
  • Sale advisor Royal Bank of Canada (financial advisor)
  • Sale outcome Sale process approved — The Applicant intends to pursue a SISP to be run by the Monitor under the supervision of the Court
  • Financial position · Secured creditors Subscribers
  • + 1 more extracted fact
PDF · Subscribers
EndorsementPDF · Subscribers
Form 1 – dated March 19 2025PDF · Subscribers
Initial Order
  • Applicant Synaptive Medical Inc.
  • Appointee Richter Inc.
  • Appointee role monitor
  • Commencement date 19 March 2025
  • + 8 more extracted facts
PDF · Subscribers
Application Record
PDF · Subscribers
Factum of the Applicant (Application for Initial Order)
  • Counsel Torys LLP
PDF · Subscribers
Pre-Filing Report of the Proposed Monitor Richter Inc. – dated March 18 2025
PDF · Subscribers
Proof of Claim FormPDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “Synaptive Medical Inc.” (CCAA), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/synaptive-medical-inc

Sources last checked · summary updated 7 August 2026 · Report a correction · Printed from proceedings.ca/case/synaptive-medical-inc

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.