Ontario · Receivership (court-appointed)
Fourth Interim Report of the Receiver- Section 246(2) of the BIA
Court officer report · 7 July 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 filing9 verified
- court file noCV-24-00719237-00CL
- courtOntario Superior Court of Justice (Commercial List)
- closing confirmedscope: the Transaction · outcome: completed · effective: 2025-03-17 · purchaser: Taro Pharmaceuticals Inc. · date basis: stated · approval order date: 2025-01-29
- operational summaryThe Receiver has collected the last remaining sales tax refunds owed to ResidualCo, completed an interim distribution to creditors, and is now working through final tax filings before seeking a final distribution and 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 · amount high: 2000 · class label: preferred creditors · interim final: interim · currency quote: all monetary amounts contained herein are expressed in Canadian Dollars · 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 · currency: CAD · pct high: 42 · class key: unsecured · stated by: receiver · amount low: 17800000 · amount high: 17800000 · class label: unsecured creditors · interim final: interim · currency quote: all monetary amounts contained herein are expressed in Canadian Dollars · 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 $0.8 million and $1.37 million. · pct of: unstated · outcome: distribution · currency: CAD · class key: unsecured · stated by: receiver · cumulative: false · amount high: 1370000 · class label: unsecured creditors · interim final: final · conditional on: Assuming the Receiver determines there are excess funds available for distribution to unsecured creditors · currency quote: all monetary amounts contained herein are expressed in Canadian Dollars · claims qualifier: unstated; basis: estimated · quote: The high end of this estimate represents an incremental recovery of approximately 3.2% for unsecured proven claims. · pct of: proven_claims · outcome: distribution · pct low: 3.2 · pct high: 3.2 · class key: unsecured · stated by: receiver · cumulative: false · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-07-07 · table missing:
- report date7 July 2026
- report noFourth Interim Report
- sale outcometext: the Transaction closed and the only remaining realizable assets are certain sales tax refunds of ResidualCo · scope: whole_business · status: closed