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Hemosol stay period extended to March 30
By Caroline Salls
Pittsburgh, Feb. 7 - Hemosol Corp. interim receiver PricewaterhouseCoopers Inc. said the Ontario Superior Court of Justice granted a further extension of the stay of proceedings against Hemosol in its Companies' Creditors Arrangement Act case to March 30, according to a news release.
In addition, the Court of Appeal for Ontario said a motion to be brought by Hemosol primary secured creditor Catalyst Capital Group Inc. to quash an appeal brought by plan sponsor 2092248 Ontario Inc. will be heard on Feb. 22, together with any motion by the plan sponsor for leave to appeal.
Hemosol, a Toronto biopharmaceutical company, filed for bankruptcy on Dec. 2, 2005 in the Ontario Superior Court of Justice.
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