Tanta Pharmaceuticals Inc.
- Proceeding
- NOIsubsection 50.4 (1) of the Bankruptcy and Insolvency Act
- File
- BK-23-2933296-00313
- Industry
- Health care · Pharmaceuticals & biotech
Tanta Pharmaceuticals Inc. filed a notice of intention to make a proposal under subsection 50.4(1) of the Bankruptcy and Insolvency Act on April 13, 2023, with B. Riley Farber Inc. as licensed insolvency trustee. The proceeding is before the Ontario Superior Court of Justice (in Bankruptcy and Insolvency) under estate number 31-2933296 and court file BK-23-2933296-00313, and remains active. The Form 33 list of creditors with claims of $250 or more, prepared as at the NOI filing date, is headed by 1000393782 Ontario Inc. at $4,184,111.25, followed by Prasanna Tanna at $761,938.51 and a shareholder's loan of $377,773.19 owing to Bhavanesh Tanna, both related-party claims. CRA deemed trust claims are listed at $181,055.90, $120,855.78, $44,728.49 and $23,120.17, alongside $244,970.00 to the Business Development Bank of Canada, $145,000.00 to Avanti Rx Analytics Inc and a $60,000.00 BMO CEBA loan.
Tanta Pharmaceuticals filed its notice of intention to make a proposal under subsection 50.4(1) of the BIA, with B. Riley Farber Inc. as licensed insolvency trustee.
Source: Certificate of Filing of a Notice of Intention to Make a Proposal
Undated filings1 — no date appears on the document · show
Report of Trustee on Proposal — Court officer report filed
Debtor
Tanta Pharmaceuticals Inc.
Proposal trustee
B. Riley Farber
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Penny | Ontario Superior Court of Justice | 2 orders, Aug 2023 | 196 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeB. Riley Farber Inc | Loopstra Nixon LLP | 16 Aug 2023 | Order · 16 Aug 2023 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | 1000393782 Ontario Inc.as of NOI filing date — debtor: Tanta Pharmaceuticals Inc. | $4.18M | NOI Creditors Package |
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured |
37 more claims in 1 class The stack holds Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: paid in full. Sigma no distribution.Under the plan · implementedOrder of Justice Penny Approving Proposal · 16 Aug 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | — | — | paid in full | Under the planimplementedper the court | Order of Justice Penny Approving Proposal · 16 Aug 2023 |
| Preferred | — | — | paid in full | Under the planimplementedper the court | Order of Justice Penny Approving Proposal · 16 Aug 2023 |
| Unsecured | Convenience Creditor Claims | — | paid in full | Under the planimplementedper the court | Order of Justice Penny Approving Proposal · 16 Aug 2023 |
| Unsecured | Sigma | — | no distribution | Under the planimplementedper the court | Order of Justice Penny Approving Proposal · 16 Aug 2023 |
| Equity | Related Parties, Existing Equity Holders and Sigma | — | no distribution | Under the planimplementedper the proposal trustee | Proposal Creditors Package · 18 May 2023 |
| Equity | Related Parties, Existing Equity Holders, Sigma | — | no distribution | Under the planimplementedper the court | Order of Justice Penny Approving Proposal · 16 Aug 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 ·
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 |
|---|---|---|
| Certificate of Full Performance (Form 46) | PDF · Subscribers | |
Endorsement of Justice Penny
| PDF · Subscribers | |
Order of Justice Penny Approving Proposal
| PDF · Subscribers | |
| Notice of Hearing of Application for Court Approval | PDF · Subscribers | |
Minutes of Reconvened Meeting of Creditors
| PDF · Subscribers | |
| Amended Certificate of Filing of a Proposal | PDF · Subscribers | |
| Certificate of Filing of a Proposal | PDF · Subscribers | |
Notice of Reconvening of Creditors Meeting
| PDF · Subscribers | |
Minutes of Meeting of Creditors to Consider Proposal
| PDF · Subscribers | |
Proposal Creditors Package
| PDF · Subscribers | |
NOI Creditors Package
| PDF · Subscribers | |
Certificate of Filing of a Notice of Intention to Make a Proposal
| PDF · Subscribers | |
| Report of Trustee on Proposal | Trustee site | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Tanta Pharmaceuticals Inc.” (NOI), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/tanta-pharmaceuticals-inc