Bankruptcy receiver Price Waterhouse Coopers has told the court it has a buyer for Merit’s land, buildings, equipment and other assets, but the identify of the buyer and pricing remain confidential.
Merit Functional Foods of Manitoba was one of Canada/’s leading plant-protein companies when it ran into financial difficulties.
Price Waterhouse Coopers said there will be no money for unsecured creditors.
Merit was placed into receivership in March 2023. Burcon NutraScience Corp., a Vancouver-based tech company that owned 31.6 per cent of Merit’s shares when it was placed in receivership was in talks to acquire the company, but its initial two bids were rejected by the receiver.
