Ontario · CCAA
Fourth Report of the Monitor dated March 11, 2022
Court officer report · 11 March 2022
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 filing8 verified
- operational summaryMedifocus has halted sales of its Prolieve product since May 2021 due to COVID-related demand declines and supply chain disruption, and is now focused on completing a reverse-vesting Reorganization Transaction with the Stalking Horse Bidder rather than ongoing commercial operations.
- process resultsbids: 0 · note: No Binding APAs other than the Stalking Horse Agreement were received by the Bid Deadline · as of: 2021-11-22 · qualified bids: 0
- professional feesnote: Revised Fee Accrual estimate including disbursements and HST for remaining proceedings; Monitor's Counsel also $21,950 and MSI re bankruptcy of ResidualCo $11,300 · party: Monitor · amount: 21950 · currency: CAD
- purchaserAsset Profits Limited
- report date11 March 2022
- report noFourth Report
- sale outcometext: No other bids were received; Stalking Horse Agreement declared Successful Bid and Reorganization Transaction approved pending completion · scope: whole_business · status: approved
- stalking horseAsset Profits Limited (1079818.85)