Status Updates
On April 13, 2023, Tanta Pharmaceuticals Inc. (“Tanta” or the “Company”) filed a Notice of Intention to Make a Proposal (“NOI”) under Section 50.4 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the “BIA”), and GlassRatner Inc. (“B. Riley Farber”) was appointed as proposal trustee in the Company’s NOI proceedings (in such capacity, the “Proposal Trustee”).
On May 11, 2023, the Company filed a Proposal with the Proposal Trustee as required. The Proposal Trustee issued a Notice of Proposal Package to all creditors on May 18, 2023. A General Meeting of Creditors to consider and vote on the Proposal was held via Microsoft Teams on June 2, 2023. The meeting was adjourned sine die.
The General Meeting of Creditors to consider and vote on the Proposal will be reconvened via Microsoft Teams on Friday, July 7, 2023 at 11:00am. The Notice of Reconvening of Creditors Meeting was issued to all proven creditors on Monday, June 26 2023.
On July 27, 2023 a motion to accept the Proposal was presented at the Reconvened Meeting of Creditors and was deemed carried pursuant to ss. 54(2)(d) of the BIA, as outlined in the Minutes of Reconvened Meeting of Creditors.
On August 16, 2023, an Order Approval Proposal was granted by the Ontario Superior Court of Justice.
On February 16, 2024, a Certificate of Full Performance was issued and filed with the Official Receiver.
All relevant documents are posted below.
Creditor or Employee Inquiries
For creditor or employee inquiries, please contact:
Sara Corcoran
Corporate Insolvency Administrator | Restructuring
T: 437.294.4650
E: scorcoran@glassratner.com
The case updates and court filed documents on this website are for information purposes only and you should consult your financial or legal adviser if you have any questions or concerns about your rights or obligations. Additional updates on the status of these proceedings may become available in the future.
Documents
NOI/Proposal Documents
• Certificate of Filing of a Notice of Intention to Make a Proposal
• NOI Creditors Package
• Certificate of Filing of a Proposal
• Proposal Creditors Package
• Minutes of Meeting of Creditors to Consider Proposal
• Amended Certificate of Filing of a Proposal
• Notice of Reconvening of Creditors Meeting
• Minutes of Reconvened Meeting of Creditors
• Notice of Hearing of Application for Court Approval
• Certificate of Full Performance (Form 46)
Court Orders and Endorsements
• Order of Justice Penny Approving Proposal
• Endorsement of Justice Penny
Reports