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He's referring to the August 22nd Motion that wasn't posted on PWC's website until February 14th 2019!
The same Motion that says that the monitor will evaluate offers with KEY STAKEHOLDERS to determine which offer will allow for the best realisation!
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-022_021419.pdf
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Investor of Capital...
When did Mitsubishi Chemical Corp invest capital in BioAmber...
And yes they were on the unsecured creditors list for $294,360.47 CAD...
Why were they included in the 1st Service List and the Amended and Restated Initial Order...
Why were they included in the Third Amended and Restated Initial Order....
No other unsecured creditors were included...
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Why would key stakeholders be allowed to review the offers if they weren't getting paid?
Why did all of the secured lenders sign off on the deal if only the comerica syndicate was getting $3.5million and they get left in the dirt... That might happen in US Chapter 7 or 11 but that is not happening with Bioamber in Ccaa restructuring proceedings... The judge would not allow the transfer of assets at such undervalue of the FMV with out a further transaction to make whole the creditors...
ALL SECURED CREDITORS SIGNED OFF ON AN OFFER THAT IS A POSITIVE RESULT FOR ALL SKATEHOLDERS INCLUDING SHAREHOLDERS!
BUSINESS AS A WHOLE!!
Noone is going to ignore to obvious facts and instead invest based on someones "opinion"...
STICK WITH THE REAL FACTS AND DOCUMENTS.
ALL OF PWC'S DOCUMENTS ARE POSTED HERE:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146880839
https://www.pwc.com/ca/en/services/insolvency-assignments/bioamber.html
WHAT IS CHAPTER 15
Well Chapter 15 is NOT 11 or 7 or anything like it!
BioAmber initially voluntarily filed for Chapter 11 Bankruptcy at the same time as the Canadian subsidiaries filed for proceedings in Canada in May 2018.
Chapter 15 cannot be granted unless proven to the court that there is a Main foreign proceeding...
BioAmber's Chapter 11 was dismissed after the CCAA Initial Order, in June 2018.
To facilitate the orderly cross border restructuring of BioAmber the company as a whole, BioAmber was granted Chapter 15 status that recognized the CCAA as the main foreign proceedings for the sale of the US assets.
"The foreign representative is also authorized to conduct the US business of the company in the ordinary course. "
https://www.thebalance.com/what-is-chapter-15-bankruptcy-316205
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Why in the world would they post such a idiotic statement like that...
Please read the docs and refresh on your LAWS
Please show a link or proof that BioAmber is Bankrupt!
They are in Chapter 15 to allow the CCAA proceedings to go ahead....
NO BANKRUPT LOL
https://www.thebalance.com/what-is-chapter-15-bankruptcy-316205
ZERO proof or link to your claim....
Piles and Piles of links and DD that prove otherwise....
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146880839
The link you posted refers to the CCAA proceedings that will soon be dismissed....
BIOAMBER IS NOT BANKRUPT AND HAS A BUYER FOR THE BUSSINESS AS A WHOLE!!!
Who says the company is being wound up??
Where is a link to that statement?
Please post links or else the statement is FALSE
The company simply filed for chapter 11 first then got is dismissed and filed for chapter 15 which is not a proceeding in itself but its recognizes a foreign proceeding as the main!
https://www.thebalance.com/what-is-chapter-15-bankruptcy-316205
Please read into what chapter 15 is...
https://www.thebalance.com/what-is-chapter-15-bankruptcy-316205
No the same laws to do not apply!
CHAPTER 15 IS NOT THE SAME OR SHARE THE LAWS OF CHAPTER 11 or 7!!
Chapter 15 recognizes a foreign MAIN proceeding and allows for easy cross border sale of assets...
It is not bankruptcy in itself!
https://www.thebalance.com/what-is-chapter-15-bankruptcy-316205
Chapter 11 was dismissed, no comparisons can be made!
BioAmber Inc has been able to continue to use their bank accounts and current cash management systems since a Court Order in June!
BioAmber is not bankrupt!
These were all voluntary proceedings!
You cannot skip straight to a Chapter 15 so BioAmber had to file for Chapter 11 and prove with facts and documents to the court that it can be dismissed, not transferred! and at the same time put into Chapter 15 to allow for the cross border sale of the US assets...
BIOAQ BIOAQ BIOAQ BIOAQ BIOAQ BIOAQ
SAY GOODBYE TO THAT Q
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146880839
BIOAQ BIOAQ BIOAQ BIOAQ BIOAQ BIOAQ
SAY GOODBYE TO THAT Q
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146880839
BIOAQ will explode!
only 129,000,000 O/S
Strategic Buyer for the Business as a whole!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146880839
BIOAQ will explode!
only 129,000,000 O/S
Strategic Buyer for the Business as a whole!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146880839
Old repeated post that has nothing to do with BioAmber but instead a generic bankruptcy quote
LOL...
please post links or else its irrelevant to Bioamber..
All PWC docs can be found here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146880839
BUSINESS AS A WHOLE
Here are updated links to all PWC's documents related to the CCAA proceedings.
There is also a timeline of Changes and Events included in the CCAA proceedings...
Mitsubishi Chemical Corp has been involved since the first service list...
MCC was included on the June 15th Amended and Restated Initial Order where a new version of the SISP was approved...
MCC was included as a Strategic buyer in the first SISP.
MCC is not a secured creditor...
Why were they on the list before everyone else that is an unsecured creditor like themselves...
All amounts owed subject to the KERP have been paid...
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146071798
No amounts can be paid to the KERP charge unless the interim lender and secured creditors are paid in full in cash...
Chapter 11 has been DISMISSED...
https://www.pacermonitor.com/case/24419228/BioAmber_Inc
The dates are from when the file was posted, not the court date.
May 11, 2018 NOI Notice to Creditors_EN_Bioamber Canada_2018-05-10
May 11, 2018 NOI Notice to Creditors_EN_Bioamber Sarnia_2018-05-10
May 28, 2018 Initial Order
May 28, 2018 Service List - Attorneys for Mitsubish Chemical Corp & Mitsui(secured creditor) but no Cargill Reverdia or DSM or Norton Fulbright
May 31, 2018 Creditors List - Mitsubishi Chemical Corp Unsecured creditor 294,360.47 CAD
June 6, 2018 Motion for the issuance of an initial order under CCAA - Contractual obligations/commitments
June 7, 2018 First report of the Monitor ** Includes Nexant Sarnia Plant Valuation ** - Section 2 Pg 13 DuraBio/Pg. 14 PTTMCC is a JV between PTT and MCC
June 7, 2018 Second report of the Monitor - MCC on creditors list included (unsecured)
June 18, 2018 Motion for approval of interim financing, extension of the stay of proceedings and other
June 18, 2018 Amended and Restated Initial Order - Pg. 24 MCC on list that order is emailed to w/BIOA,pwc,DIP and secureds-prior to SISP
June 21, 2018 Updated Service List ** SISP has started and DSM is added to the Service List, Luc Morin** - Attorneys for MCC, DSM, Ingredion and Mitsui(secured creditor)
July 9, 2018 Updated Service List - Attorneys for Mitsubish Chemical Corp, DSM, Ingredion and Mitsui(secured creditor)
July 18, 2018 Motion for approval of KERP and issuance of a second amended and restated initial order - Prospective Bidder and Prospective Purchaser in KERP
July 18, 2018 N/A **Third report of the Monitor with leaked Qualified Bidders** - PTT and Greenfield Leaked only 2 of 7 LOI's recieved - never on a service list
July 18, 2018 Updated Service List - Attorneys for MCC, DSM, Ingredion, Davies and Mitsui(secured creditor)
July 19, 2018 Third report of the Monitor - 7 LOI's only 2 were leaked (1 Financial, 5 Strategic, 1 liquidator-point 13 in report) PTT Pulls bid after leak
July 19, 2018 Second amended and restated Initial Order - no emails included on this Order; unlike previous Order
July 26, 2018 Updated Service List - Attorneys for MCC, DSM, Ingredion and Mitsui(secured creditor)
July 31, 2018 Updated Service List - Attorneys for MCC, DSM, Ingredion and Mitsui(secured creditor)
August 1, 2018 Motion for the extension of the stay of proceedings ** No Acceptable offer from Qualifed Bidders ** - No emails on Motion
August 1, 2018 Fourth report of the Monitor - MCC, PTT, DSM and LCY listed as strategic buyers w/many others-no Visolis
August 1, 2018 Third amended and restated Initial Order ** PWC extended powers, SISP in "Liquidation Scenario"** - Pg. 24 MCC on list that order is emailed to w/BIOA,pwc,DIP and secureds
August 29, 2018 Motion for the extension of the stay of proceedings ** Missing from PWC's website since Motion, ADDED FEB 14,2019 **11 offers-2 by strategic buyers for the Business as a Whole"
August 29, 2018 Fifth report of the Monitor - no mention
August 29, 2018 Order for the extension of the Stay of proceedings - no emails included on order
September 4, 2018 Updated Service List - Attorneys for MCC, DSM, Ingredion and Mitsui(secured creditor), Cargill and Davies
September 14, 2018 Motion for the extension of the Stay of proceedings - emailed to service list and Arlanxeo/Kugler Kandestine(BK restructuring cross border attorneys)
September 14, 2018 Motion for the issuance of an Approval and Vesting Order ** For the Sale of Assets only, no contracts, cash or liabilites** - "best interest of all the Petitioners' stakeholders"
September 17, 2018 Sixth Report of the Monitor - no mention
September 19, 2018 Order for the extension of the Stay of proceedings - no emails included on order
September 19, 2018 Order approving the Visolis Transaction - attorneys for BIOA, PWC and Purchaser (Norton Fulbright)
September 24, 2018 Motion for the Assignement of an Agreement ** Reverdia STA Agreement ** - emailed to service list and Reverdia
October 4, 2018 Updated Service List - Attorneys for MCC, ***Newco replaces DSM w/same attorney***, Ingredion and Mitsui(secured creditor), Cargill and Davies
October 10, 2018 US order authorizing Visolis transaction - US Motion for this order served on MCC(not as a creditor), Mitsui(listed as creditor and listed again in general) - no DSM or Newco
October 17, 2018 Updated Service List - Attorneys for MCC, Newco replaces DSM w/same attorney, Ingredion and Mitsui(secured creditor), Cargill and Davies
October 22, 2018 Motion for the extension of the stay of proceedings - emailed to the service list
October 23, 2018 Seventh Report of the Monitor - no mention - Forecast does not include cash flows from sale transactions outside of the ordinary course/US order says Sale outside ordinary course
October 24, 2018 Updated Service List - Attorneys for MCC, Newco replaces DSM w/same attorney, Ingredion and Mitsui(secured creditor), Cargill and Davies
October 25, 2018 Monitor's Sixth report to the Court final with apprendices - no mention
October 26, 2018 Supplementary Report to the Seventh Report of the Monitor - Crane Letters
October 29, 2018 Order for the extension of the Stay of proceedings - no emails included on order
October 30, 2018 Updated Service List - Attorneys for MCC, Newco replaces DSM w/same attorney, Ingredion and Mitsui(secured creditor), Cargill and Davies
December 7, 2018 Sixth report of the Monitor (including previously sealed appendices) - no mention
December 13, 2018 Motion for directions to authorize the Monitor to proceed with interim distributions ** $2 Million to Comerica, additional $1.5+ in future ** - Mitsui as secured Creditor/emailed to service list
December 13, 2018 Eighth report of the Monitor - all amounts owing that are subject to the KERP charge have now been paid
December 17, 2018 Judgment on the motion for directions to authorize interim distributions - no emails included on judgement
January 3, 2019 Motion for the extension of the stay of proceedings - emailed to service list
December 18, 2018 Updated Service List - Attorneys for MCC, Newco replaces DSM w/same attorney, Ingredion and Mitsui(secured creditor), Cargill and Davies
January 3, 2019 Ninth report of the Monitor - "sale of the Company"/opening bank accounts useful to the Compnay's operations/sale of the Company's operations to Visolis and LCY/
January 8, 2019 Order for the extension of the Stay of proceedings ** Until March 15, 2019 ** - no emails listed
February 8, 2019 Tenth report of the Monitor - "No value in CCAA proceedings"
OMG the day has come!!
EVERYONE GATHER ROUND
Bioamber is not in chapter 7 or 11 but indeed in chapter 15!!!!!
That shares are cancelled!?!?
More Lies and false claims...
PWC has not and will not "clearly post" that!
HAHA
It was a SALES PROCESS
BioAmber is not and will never be in CHAPTER 7
That is pure cancellation fantasy at its finest with no links or documents just "opinions"
Why would an employment arrangement change????
These arrangements were reported in the April 30th 2018 10-K/A
Just days before BioAmber filed for voluntary CCAA proceedings to restructure on May 4th...
A change on control transaction was approved and those employees did resign so read the agreements to see what they get!!
Jame Millis resigned and is already working for another company according to his Linkedin... He gets paid 12 months salary post resigning!?!
How would the creditors allow such a thing if they are only getting paid a fraction of what they are owed...
https://seekingalpha.com/filing/3996866
LOL no thats so far from true...
"...Which is the Canadian version of Chap 7 in the US."
NO Thats called bankruptcy in CANADA!
BioAmber is in CCAA RESTRUCTURING...
CCAA and Chapter 11 comparison..
https://blakesfiles.com/Guides/Blakes_Restructuring_and_Insolvency_Canada.pdf
Chapter 11 was DISMISSED so you cannot even compare to Chapter 11
YES THEY VOLUNTARY RESIGNED AFTER APPROVING A DEAL for the Business as a whole!!
Its right in the documents, just gotta read them.
Not a link to anything related to BioAmber, please stay on-topic...
Please only post relevant links to the current Company...
Docs can be found here:
https://www.pwc.com/ca/en/services/insolvency-assignments/bioamber.html
https://www.pacermonitor.com/case/24653251/BioAmber_Inc_and_BioAmber_Inc
Heres the Chapter 11 DISMISSAL:
https://www.pacermonitor.com/case/24419228/BioAmber_Inc
PWC has even posted an updated link to the August 22nd Motion conveniently a few days after its posted online that its missing....
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-022_021419.pdf
STOP posting false claims!!
Where is this from!?!?
It has NOTHING to do with BioAmber...
BioAmber is NOT Bankrupt...
SHARES ARE SAFE
Mitsubishi?
NO ONE IS GETTING SCREWED!
Please post links otherwise all claims are false
That has zero to do with BioAmber!!
Chapter 11 dismissed!
False, no link provided = not true
http://archive.fast-edgar.com//20190214/APAZMG2CZ222HZZZ272O2ZZABGWIZB22ZGB2/
SOFINOVA STILL HOLDS SHARES!!
Yeah the O/s has increased since their previous Reporting....
How many institutions is that now who were "key stakeholders" who have reported still holding shares!!!??
SHARES ARE SAFE
Another 13D is out
Sofinnova Capital owns 3,294,037 shares or 2.5% of the O/S!!
WHY if this is bankrupt and going to be cancelled are institutions posting 13g's and 13d's
Your preaching to the choir,
I suggest you give it a read along with all the other docements...
BASIC STUFF HAHAHAHA
Post links and documents otherwise its just an opinion
FALSE
Where is this from?? Pure cancellation fantasy with false claims...
show the link
Lol, Hardly facts.
please post links and screenshots to backup your "opinion"...
I just posted the documents that say otherwise...
Why does the secured debt, which is secured only by Bioamber Sarnia and the Assets go back to BioAmber Inc after the CCAA proceedings...
Why would would the separate US entity take on debt that was secured to assets of a different company that have been sold...