Adaltis Inc. (Adaltis), an in vitro diagnostic (IVD) company, has received an order from the Quebec Superior Court. In its order, the Court establishes a claims process for the purpose of determining the claims of the creditors of the company and for the calling and conducting of a meeting of the creditors of the company once a plan of compromise and arrangement has been filed.
In its order, the Court also set to August 13, 2009 the bar date for the filing of a proof of claim. Creditors who fail to file a claim by such date will be precluded from any participation in any eventual distribution.
Such order will allow Adaltis to determine the quantum of claims that will be subject to any future plan of compromise and arrangement and to deal with such claims against Adaltis.
Adaltis has been operating under the protection of the Companies’ Creditors Arrangement Act (Canada) since July 3, 2009.