BioAmber Inc fka BIOAQ

[shajandr]

shajandr Friday, 08/24/18 08:35:13 PM
Re: mrtacpans post# 31807
Post # of 34184

BioAmber cannot 'reopen'. Under Chapter 7 the company is DISSOLVED. It ceases to exist, as do the common shares - the ticker will remain temporarily as zombie ticker - shares of nothing trade,

You have zero shares in whatever becomes of the pieces that are sold to a liquidator.

Creditors will get pennies on the Dollar for what they are owed and commons will get nothing.

And that's it. All you'll have is shares in a non-existent corporation that will trade as zombie ticker shares until the SEC gets around to revoking the ticker. Butt they represent nothing, as the corporation will be dissolved as part of the Chapter 7 bankruptcy.

shajandr Friday, 08/24/18 08:39:26 PM
Re: Penman1 post# 31819
Post # of 34184

Wrong, it is exactly as stated in the PWC letter to the court. And that is how a Chapter 7 liquidation works. Which is why in a Chapter 7, there is no discharge of creditors - because the corporation will no longer operate nor exist.

This is NOTT a Chapter 11.

shajandr Friday, 08/24/18 08:46:04 PM
Re: Lightningtrader post# 31821
Post # of 34184

Wrong, it was a Chapter 11 that was converted to a Chapter 7. Read the bankruptcy court documents. It is now in liquidation.

shajandr Friday, 08/24/18 08:53:27 PM
Re: NewTrader2017 post# 31823
Post # of 34185

Liquidation means all the assets are sold of for cash. Has nothing to do at all with common shares. Commons gett nothing here and the corporation itself is dissolved. The creditors will be lucky to get pennies on the Dollar for what they are owed.

shajandr Friday, 08/24/18 09:01:36 PM
Re: NewTrader2017 post# 31828
Post # of 34185

Dude, this IS Chapter 7! READ THE COURT DOCS and the PWC letter. This was filed as a Chapter 11/13, butt there was no viable reorg plan and there were no bidders. This was converted to Chapter 7, which is common when there is no viable reorg plan.

Now it's in LIQUIDATION, which is Chapter 7. The assets of the corporation will be sold and the corporation will be dissolved.

Read the court docs and PWC letter/report.

Read my prior posts too.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142631652

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142631912

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143129634

Whoops-oops!!!

shajandr Friday, 08/24/18 09:02:43 PM
Re: NewTrader2017 post# 31829
Post # of 34185

"if it is bankrupt, why the pps has gone 400% up in last few weeks?"

Because, as is clear for the past several posts, pennyvestors here have no understanding of corporate bankruptcy.

shajandr Thursday, 08/02/18 07:51:17 AM
Re: motorcityAce post# 27298 0
Post # of 34185

They DIDN'T find a buyer. There were no bids. This has already moved to LIQUIDATION. The business is OVER. All that is being sold now are the individual assets, and the receiver takes bids for the PIECES. See the PWC report. There will be no reorg or continuation of the corporation. It's done - there were no bidders and liquidation is already underway. The corporation itself does nott survive - it becomes dissolved.

shajandr Thursday, 08/02/18 07:32:55 AM
Re: General Grievous post# 27285
Post # of 34185

"Liquidation will almost certainly result in no residual value for non-secured creditors and equity investors."

That, sir, is a straight-up fact. Commons will gett NOTHING here.

There is no BIOAQ that survives this bankruptcy! It is now a LIQUIDATION (Chapt 7 conversion) that ends with the assets SOLD off and the corporation will be DISSOLVED.

Bidders are NOTT bidding for the corporation, they are bidding for the ASSETS of the corporation. The BIOAQ will nott exist after the liquidation sale - only the ticker will persist as a zombie ticker until it eventually is revoked.

BIOAQ common stock shareholders will have shares in absolutely NOTHING. And as the existing creditors will be lucky to gett pennies on the Dollars owed them, there will be no cash to distribute to common stock shareholders from the asset sale.

Geeze, basic bankruptcy law.