Court Grants Hemosol Stay

Law360, New York (February 8, 2007, 12:00 AM EST) -- Hemosol Corp. has been granted a third extension of the stay of proceedings against it, the troubled biopharmaceutical company’s receiver, PricewaterhouseCoopers Inc., said Wednesday.

PricewaterhouseCoopers, which is the interim receiver of Hemosol’s assets and property, said that the Ontario Superior Court of Justice on Wednesday granted a further extension of the stay of proceedings, originally set to expire on Feb. 9, the Globe and Mail reported.

The current stay of proceedings will now expire on March 30, PricewaterhouseCoopers said.

The receiver also said that the Court...
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