Update in the litigation with Cardiaq - Stay of judgmentAs a result of the court order imposing a stay, CardiAQ cannot enforce the money judgment pending the outcome of the appeal.
Under the terms of the stay, Neovasc will deposit US$70 million into a joint escrow account and enter into a general security agreement related to the remaining damages awarded by the court. Neovasc will also require court approval for transactions outside the course of normal business until such time that an appeal is decided in Neovasc's favor or the Company posts the remaining amount of money judgement into the joint escrow account.
https://www.nasdaq.com/press-release/neovasc-announces-update-in-litigation-with-cardiaq-20161223-00331