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 filing3 verified
- secured creditorsnote: Convertible debenture instrument; automatic debit arrangement from Valeo's Operations Account (TD account 5237856) per Formulaire de coordonnées bancaires signed December 7, 2021. No principal or outstanding balance stated in these pages; IQ's debit/set-off rights were suspended by the Initial/Amended Order. · page: 2 · debtor: Valeo Pharma Inc. · creditor: Investissement Québec · currency: CAD · security: Certificat de Débentures Convertibles no. 2021-CD-001 issued December 9, 2021 to Investissement Québec by Valeo
- secured creditorsnote: Named as pre-filing secured creditor in style of cause; no pre-filing loan balance stated in these pages. Also separately acts as Interim (DIP) Lender under a distinct post-filing facility (Interim Lender Charge of CA$8,000,000). Counsel letter (Oct. 7, 2024) states that Sagard's pre-CCAA obligations are 'fully subordinate' to Accord Financial Inc.'s hypothec on Valeo's inventory and accounts receivable, per Intercreditor Agreement (Exhibit R-20). · page: 2 · debtor: Valeo Pharma Inc.; VPI Pharmaceuticals Inc. · creditor: Sagard Healthcare Partners (Delaware) LP (acting through its general partner Sagard Healthcare Royalty Partners GP, LLC) · currency: USD · security: Sagard Loan Agreement; Deed of Movable Hypothec from Valeo and VPI in favour of Sagard dated July 27, 2022; Securities Pledge Agreement; Sagard Blocked Account Agreement; Sagard Guarantee from Valeo Pharma Corp.
- secured creditorsnote: Amount is counsel's approximation in an October 7, 2024 letter ('just under $3,100,000, presently'); no exact dated statement of account provided in these pages. Described as 'presently very substantially over-collateralized' in respect of Valeo's inventory and accounts receivable; holds priority/security in inventory and receivables senior to Sagard's pre-filing claim per Intercreditor Agreement. · page: 81 · as of: 2024-10-07 · amount: 3100000 · debtor: Valeo Pharma Inc.; VPI Pharmaceuticals Inc. · creditor: Accord Financial Inc. · currency: CAD · security: Accord Loan Agreement; Deed of Movable Hypothec from Valeo in favour of Accord dated September 22, 2023 (Exhibit R-17); Deed of Movable Hypothec from VPI in favour of Accord dated September 22, 2023 (Exhibit R-18); Accord Guarantee; Blocked Account Agreement dated on or about January 5, 2024 (Valeo, TD, Accord)