Ontario · Receivership (court-appointed)
Third Report of the Court-Appointed Receiver (without appendices), dated January 22, 2021
Court officer report · 22 January 2021
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing6 verified
- closing confirmedscope: the asset transaction contemplated by the APA · outcome: not_completed · effective: 2021-01-18 · purchaser: TS Pharmaceutical Ltd. · date basis: stated · approval order date: 2021-01-07
- operational summaryThe receiver reports that the purchaser failed to close the court-approved asset sale on the January 18, 2021 closing date, citing the expiry of the Cannabis Licence on December 28, 2020. The receiver disputes the purchaser's position and seeks an order that the purchaser close by February 10, 2021, failing which it will seek a declaration that the deposit is forfeited.
- purchaserTS Pharmaceutical Ltd.
- report date22 January 2021
- report noThird Report
- sale outcometext: The Purchaser failed to close the asset transaction on the agreed Closing Date, and the Receiver is seeking a Court endorsement directing the Purchaser to close by no later than February 10, 2021. · scope: parcel · status: not_completed