Hemosol Granted Fourth Stay Extension

Law360, New York (March 27, 2007, 12:00 AM EDT) -- Hemosol Corp. has been granted a fourth extension of the stay of proceedings against it, the troubled biopharmaceutical company’s receiver, PricewaterhouseCoopers Inc., said Monday.

PricewaterhouseCoopers, the interim receiver of Hemosol’s assets and property, said the Ontario Superior Court of Justice on Wednesday granted a further extension of the stay of proceedings, originally set to expire on March 23, Canada NewsWire reported.

The current stay of proceedings will now expire on April 27, PricewaterhouseCoopers said.

PricewaterhouseCoopers said the further extension was necessary to provide additional time for...
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