Ontario · Receivership (court-appointed)
Third Interim Report of the Receiver- Section 246(2) of the BIA
Court officer report · 27 January 2026
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 filing7 verified
- closing confirmedscope: the transaction contemplated therein · outcome: completed · effective: 2025-03-17 · purchaser: Taro Pharmaceuticals Inc. · date basis: stated · approval order date: 2025-01-29
- operational summaryThe receivership has completed the sale transaction and resolved all creditor claims; remaining activities involve collecting outstanding sales tax refunds, finalizing tax filings, and determining and distributing any remaining funds to unsecured creditors before seeking discharge.
- purchaserTaro Pharmaceuticals Inc.
- recovery outcomeentries: basis: actual · quote: In conjunction with the Interim Distribution Order granted on April 3, 2025, the Receiver issued an interim distribution totalling approximately $17.8 million to unsecured creditors and $2,000 to preferred creditors. · pct of: unstated · outcome: distribution · currency: CAD · class key: preferred · stated by: receiver · amount low: 2000 · cumulative: false · amount high: 2000 · class label: preferred creditors · interim final: interim · currency quote: In conjunction with the Interim Distribution Order granted on April 3, 2025, the Receiver issued an interim distribution totalling approximately $17.8 million to unsecured creditors and $2,000 to preferred creditors. · claims qualifier: unstated; basis: actual · quote: The distributions approved under the Interim Distribution Order represent a recovery of approximately 42% for unsecured proven claims. · pct of: proven_claims · outcome: distribution · pct low: 42 · pct high: 42 · class key: unsecured · stated by: receiver · amount low: 17800000 · cumulative: false · amount high: 17800000 · class label: unsecured creditors · interim final: interim · claims qualifier: unstated; basis: estimated · quote: At this time, the Receiver estimates the final distribution available for the benefit of unsecured creditors to be between nil and $1.5 million. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: receiver · amount low: 0 · cumulative: false · amount high: 1500000 · class label: unsecured creditors · interim final: final · conditional on: Should the Receiver determine there are excess funds available for distribution · claims qualifier: unstated; basis: estimated · quote: The high end of this estimate represents an incremental recovery of approximately 3.5% for unsecured proven claims. · pct of: proven_claims · outcome: distribution · pct low: 3.5 · pct high: 3.5 · class key: unsecured · stated by: receiver · cumulative: false · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-01-27 · table missing:
- report date27 January 2026
- report noThird Interim Report
- sale outcometext: The Transaction closed on March 17, 2025. · scope: whole_business · status: closed