Hemosol insolvent; units make bankruptcy proposal to creditors

By Caroline Salls

Pittsburgh, Nov. 28 - Hemosol Corp. is insolvent and Hemosol Corp. and Hemosol LP have filed notices of intention to make a proposal to their creditors under the Bankruptcy and Insolvency Act (Canada), according to a company news release.

The company also appointed PricewaterhouseCoopers Inc., a licensed trustee, to act as trustee under the proposals.

Hemosol is continuing discussions with its secured creditors with respect to its current financial position.

Hemosol is a biopharmaceutical company based in Toronto.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.