BioSyntech Inc. / Bio Syntech Canada Inc. – Bankruptcy

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Bankruptcy

Page last updated: September 22, 2010

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.


Status as at September 21, 2010

On September 10, 2010, BioSyntech Inc. and Bio Syntech Canada Inc. are deemed to have filed an assignment and PricewaterhouseCoopers Inc. was appointed Trustee of the estates of the debtors by the Official Receiver.

The first meeting of creditors of the debtors will be held on September 30, 2010, at 10:30 A.M. for BioSyntech Inc. and at 11:00 A.M. for Bio Syntech Canada Inc. at the office of the Official receiver, at 5 Place Ville-Marie, 8th Floor, Montreal (Quebec).

Status as at July 28, 2010

On July 26, 2010, BioSyntech Inc. and Bio Syntech Canada Inc. have obtained from the Court a second extension of forty-five days, i.e. until September 9, 2010, for filing a proposal.

Status as at June 15, 2010

On June 11, 2010, BioSyntech Inc. and Bio Syntech Canada Inc. have obtained from the Court a first extension of forty-five days, i.e. until July 26, 2010, for filing a proposal.

Status as at June 9, 2010

On June 2nd, 2010, the Superior Court of the province of Quebec granted a motion to authorize the sale of most of the debtor’s assets to Piramal Healthcare Ltd. These assets are the intellectual properties, the trade mark, the building and the equipment.

Status as at May 19, 2010

On May 12, 2010, BioSyntech Inc. and Bio Syntech Canada Inc. filed a notice of intention to make a Proposal and PricewaterhouseCoopers Inc. was appointed Trustee.

On May 13, 2010, the Superior Court of the province of Quebec granted an order appointing PricewaterhouseCoopers Inc. as interim receiver of the assets of BioSyntech Inc. and of Bio Syntech Canada Inc. in order to take all conservatory measures to protect the assets of the companies, in particular the solicitation of offers to purchase for the assets.


This Web site will be updated as information becomes available.

For more information, please contact: Christian Bourque, Telephone: +1 514 205 5434, Fax: +1 514 205 5694, Email.



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