Ontario · Receivership (court-appointed)

First Interim Report of the Receiver- Section 246(2) of the BIA

Court officer report · 18 November 2024

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

recovery outcomeentries: basis: estimated · quote: the Receiver is of the view that approximately US$519,000 is subject to a constructive trust payable to Nuance Pharma Ltd. (the ' Priority Amount '). · pct of: unstated · outcome: paid_in_full · currency: USD · class key: deemed_trust · stated by: receiver · amount low: 519000 · amount high: 519000 · class label: Nuance Pharma Ltd. (constructive trust - Priority Amount) · creditor name: Nuance Pharma Ltd. · interim final: unstated · conditional on: Subject to Court approval · currency quote: US$519,000 · claims qualifier: unstated; basis: unstated · quote: Before recoveries to unsecured creditors can be reasonably estimated, administration of both the Sale Process and the Claims Procedure will need to be completed. · pct of: unstated · outcome: undetermined · class key: unsecured · stated by: receiver · class label: unsecured creditors · interim final: unstated · conditional on: administration of both the Sale Process and the Claims Procedure will need to be completed · claims qualifier: unstated · table missing:
sale advisorBloom Burton Securities Inc.
sale outcometext: Binding offers were due on November 15, 2024. The Receiver is currently in the process of evaluating submissions received, and will provide a comprehensive update to the Court at a future date as developments occur. · scope: whole_business · status: bid_selected