Haemacure Corporation Gets Canada Court OK to Sell Assets to Angiotech Pharmaceuticals, Inc.
Published: Mar 22, 2010
The sale of the assets was concluded after a thorough bid-solicitation process carried out on behalf of Haemacure by PricewaterhouseCoopers Inc. in Canada and the United States, in the context of the notice of intention to make a proposal to its creditors filed by Haemacure on January 8, 2010 under the Bankruptcy and Insolvency Act (Canada).
Haemacure also obtained a second extension, until April 19, 2010, within which to make a proposal to its creditors. This extension will also allow Haemacure and Angiotech to complete the documentation required for the closing of the asset-sale transactions in Canada and the United States. The closings are expected to be held prior to the new expiry date of April 19, 2010.