BioAmber Inc (fka BIOAQ)

[1manband]

Shareholders do not get paid. Common shareholders get nothing.

Let me explain what that means.

Certain lenders have security interests over certain assets that PwC is liquidating. The money from those asset sales, by LAW, will go directly to the secured lenders. It will not pass through BioAmber Inc.

The assets of the US subsidiary are not secured. Therefore, the money from the sales of those assets WILL go to BioAmber Inc. BUT, it will still be paid out to the creditors, again BY LAW. They still have the rights to those assets. Any cash obtained from the sale of those assets will just be distributed pro-rata to the remaining debtors and creditors. Not the shareholders.

Bankruptcy law is very strict and very clear. Common shareholders are dead last in line. And they will receive nothing here, as there will not be enough money to pay off all the people in line in front of them.