Quebec · Proposal
Trustee's Report on its preliminary administration (in French only)
Court officer report · 8 January 2025
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 filing4 verified
- financial positionnote: Assets side only is stated: statutory balance sheet total of $4 (comptes à recevoir 1, frais payés d'avance 1, matériel et mobilier de bureau 1, brevets 1); estimated liquidation value total is nil ('-'), with patents' liquidation value 'indéterminée' (realization value of the Trustee's rights in the patents 'actuellement inconnue'). Total assets left null because the $4 is a nominal placeholder total. Liabilities: no total is stated; claims declared in the statutory balance sheet were 38 creditors totalling $4,309,153 (secured 1,599,511; ordinary 2,709,642), and claims received by the Trustee at 8 January 2025 total $2,876,846 (secured 1,879,567; ordinary 997,279). · as at: 2024-12-19 · basis: Bilan statutaire au 19 décembre 2024 (non vérifié) — unaudited statutory balance sheet; assets carried at nominal $1 each, with an estimated liquidation value shown separately · scope: Angiochem Inc. (single entity, the debtor) · currency: CAD
- operational summaryAngiochem, a Québec biotechnology company, ceased to be able to pay its debts or fund a phase III clinical study and was declared bankrupt on a creditor's petition on 19 December 2024. The Trustee is repatriating books and records, has opened a trust bank account, and is preparing to protect the patents; a possible proposal under section 50(1)(e) BIA involving Biovie to resume activities is under discussion.
- professional feesnote: This is a deposit received as security for the Trustee's fees and disbursements, paid by Placement Biovie Inc. — not a stated total of fees incurred. · party: PricewaterhouseCoopers Inc., SAI (Trustee) · amount: 50000 · currency: CAD
- report date8 January 2025