Bruce, are you saying that $80M is what a "bankrupt empty shell" will fetch?
I stand by my original primary prediction back in July: a $250M Cargill-US Bank-BioAmber restructuring. Cargill had a "petpetual" yeast contract with BIOA. mrtacpans has calculated that just succinic acid production over 5 yrs would generate $1.2B in revenues. Seem like it's something that might work out.
Of course, several other things might happen. I really think Mr. Eno is the joker in the deck. What he actually might do is unpredictable. If it's totally out of his hands, and PWC makes an independent recommendation to the judge, the outcome can't be predictable, especially since local, provincial, and the national government of Canada are stakeholders in the original project.
