TBPMF - Tetra Bio-Pharma files for bankruptcy in Canada
2023-08-01 10:20:43 ET
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Tetra Bio-Pharma ( TSX: TBP:CA ) ( OTCPK:TBPMF ) has voluntarily declared bankruptcy in Canada, the company said Tuesday.
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HOULEROY S.A. has been appointed as the company's trustee in bankruptcy.
On March 7, 2023, the Ontario Securities Commission rejected an application for a Management Cease Trade Order from the company.
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The rejected MCTO prevented the company from negotiating any securities to continue to finance the corporation and blocked it from paying debt with shares.
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As a result, the company said it had no other choice but to make a voluntary assignment into bankruptcy.
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Tetra Bio-Pharma files for bankruptcy in Canada