Quebec · Bankruptcy
Trustee's Preliminary Report on the Administration of the Estate (in French)
Court officer report · 20 October 2026
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- courtCOUR SUPÉRIEURE
- court file no200-11-031150-264
- provinceQUÉBEC
- appointeeErnst & Young Inc.
- appointee rolesyndic de l’actif
- commencement date29 September 2026
- unsecured creditorsnote: Proofs of claim FILED, distinct from the debtor-declared total of $20,045,207.40; creditors not named in the report. The Trustee has neither accepted nor rejected any claim and does not intend to reconcile proofs with the debtor's records unless funds become available for distribution. · page: 3 · as of: 2026-10-20 · basis: Trustee's report: two unsecured proofs of claim received as of 20 October 2026 · amount: 15583527 · debtor: Endorecherche Inc. · creditor: Unsecured creditors (proofs of claim filed, two proofs) · currency: CAD
- financial positionnote: Deficit stated as $20,022,643.24 (form labels it 'Surplus' on the liabilities side and 'Déficit' on the assets side). Assets are carried at estimated realizable value: bank deposits $22,561.16, plus $1 each for shareholder advances, patents and securities. Book values noted by Trustee but not in realizable total: patents $809,739 (realization value nil, renewal fees unpaid), Sermonix Pharmaceuticals shares book value $1,915,468 (222,245 shares, 1.50%; realizable value 'to be determined', subject to the Sermonix reorganization and LeonaBio share distribution), shareholder advances receivable $22,929. Balance sheet shows secured creditors 0.00, preferred 0.00, unsecured $20,045,207.40. Trustee's report: 'Aucune créance garantie n'a été déclarée au Bilan'. Internal financial statements show negative equity of $8,675,780 at 31 January 2026, net loss $39,108 (2026) and $792,884 (2025), no revenue in 2025 or 2026. · page: 7 · as at: 2026-09-29 · basis: Form 78 preliminary balance sheet prepared by the Trustee from the debtor's books and records, sworn by Claude Labrie; unaudited, preliminary and subject to change and verification · scope: Endorecherche Inc. only (single entity, not consolidated with the Groupe Endo) · currency: CAD · total assets: 22564.16 · total liabilities: 20045207.4
- unsecured creditorsnote: Tax debts are checked as a reason for financial difficulty; the Trustee states it is aware of no priority claim and has received no proof of a priority claim. Listed unsecured, not as preferred or deemed trust. · page: 9 · as of: 2026-09-29 · basis: Form 78 balance sheet (Annexe B), listed as accounts payable and in the unsecured column as declared by the bankrupt · amount: 158825.54 · debtor: Endorecherche Inc. · creditor: Agence du Revenu du Canada · currency: CAD
- unsecured creditorsnote: Liability type: inter-company loans (Prêts entre entreprises liées); related party sharing the debtor's registered address. Not formally accepted or rejected by the Trustee. · page: 9 · as of: 2026-09-29 · basis: Form 78 balance sheet (Annexe B), list of liabilities as declared by the bankrupt; subject to verification · amount: 11457715 · debtor: Endorecherche Inc. · creditor: 2751-8901 Québec Inc. · currency: CAD
- unsecured creditorsnote: Endorecherche had guaranteed the debts of Endoceutics inc. to CHU Québec and Université Laval in the amount of $4,125,812 each (guarantee-based claim). · page: 9 · as of: 2026-09-29 · basis: Form 78 balance sheet (Annexe B), accounts payable as declared by the bankrupt; subject to verification · amount: 4125812 · debtor: Endorecherche Inc. · creditor: CHU Québec · currency: CAD
- unsecured creditorsnote: Endorecherche had guaranteed the debts of Endoceutics inc. to CHU Québec and Université Laval in the amount of $4,125,812 each (guarantee-based claim). · page: 9 · as of: 2026-09-29 · basis: Form 78 balance sheet (Annexe B), accounts payable as declared by the bankrupt; subject to verification · amount: 4125812 · debtor: Endorecherche Inc. · creditor: Université Laval · currency: CAD
- unsecured creditorsnote: New York, USA address; the currency of this claim is not stated on the form (assumed CAD, the form's currency). · page: 9 · as of: 2026-09-29 · basis: Form 78 balance sheet (Annexe B), accounts payable as declared by the bankrupt; subject to verification · amount: 123553.41 · debtor: Endorecherche Inc. · creditor: Ostrolenk Faber · currency: CAD
- unsecured creditorspage: 9 · as of: 2026-09-29 · basis: Form 78 balance sheet (Annexe B), accounts payable as declared by the bankrupt; subject to verification · amount: 51035.66 · debtor: Endorecherche Inc. · creditor: Iron Mountain · currency: CAD
- unsecured creditorspage: 9 · as of: 2026-09-29 · basis: Form 78 balance sheet (Annexe B), accounts payable as declared by the bankrupt; subject to verification · amount: 1837.11 · debtor: Endorecherche Inc. · creditor: Groupe RDL · currency: CAD
- unsecured creditorsnote: Related party: principal officer of the debtor and signatory of the balance sheet. · page: 9 · as of: 2026-09-29 · basis: Form 78 balance sheet (Annexe B), accounts payable as declared by the bankrupt; subject to verification · amount: 616.68 · debtor: Endorecherche Inc. · creditor: Claude Labrie · currency: CAD
- cash on handnote: Deposits in financial institutions (BNC and RBC); BNC confirmed closure of one account, confirmation from RBC still awaited. · amount: 22561.16 · currency: CAD · qualifier: estimated realization value
- operational summaryEndorecherche, a biopharmaceutical R&D company within the Endoceutics group, generated no revenue in 2025 or 2026 and has made an assignment in bankruptcy. No assets are currently available for creditors, subject to a possible realization of its Sermonix Pharmaceuticals shares; no distribution to unsecured creditors is anticipated.
- report date20 October 2026
- secured creditors