Sunday, September 23, 2018 9:38:51 AM
Supporting documents/evidence that the sale of the assets of BioAmber Inc - the US ASSETS will be filed separately to the United States Court. The purchased price in Exhibit B in Pacer, the $4.3M is for US asset only...
Excerpt from Motion for the extension of the Stay of proceedings - 2018-09-13 (see PWC's court motions and orders). Page 3, number 20
The extension of the Stay Period will allow the monitor to complete the milestones:
"Apply, as authorized foreign representative, to the United States Court for an Order endorsing the sale of the assets of BioAmber Inc (the "U.S. Assets"), which is based in United States, in order to provide the Purchaser with a clear and valid title to the U.S. Assets pursuant to the Contemplated Transaction;
It was mentioned again from Motion for the issuance of an Approval and Vesting Order - 2018-09-13, section C, page 4
24. Since the Proposed Transaction includes the sale of the assets of BioAmber Inc, which is based in United States (the US Assets) and considering the the DIP Lender and Comerica Syndicate do not have security over such assets, the portion of the Purchase price affecting these assets will not be distributed to these creditors and will be allocated DIRECTLY to BioAmber Inc (US)[/b]
25. Should the court approve the Proposed Transaction, the monitor as authorised foreign representative will apply to the United States court for an Order recognizing the Approval and Vesting Order that will be issued in the present proceedings WITH RESPECT to the US ASSETS.
Excerpt from Motion for the extension of the Stay of proceedings - 2018-09-13 (see PWC's court motions and orders). Page 3, number 20
The extension of the Stay Period will allow the monitor to complete the milestones:
"Apply, as authorized foreign representative, to the United States Court for an Order endorsing the sale of the assets of BioAmber Inc (the "U.S. Assets"), which is based in United States, in order to provide the Purchaser with a clear and valid title to the U.S. Assets pursuant to the Contemplated Transaction;
It was mentioned again from Motion for the issuance of an Approval and Vesting Order - 2018-09-13, section C, page 4
24. Since the Proposed Transaction includes the sale of the assets of BioAmber Inc, which is based in United States (the US Assets) and considering the the DIP Lender and Comerica Syndicate do not have security over such assets, the portion of the Purchase price affecting these assets will not be distributed to these creditors and will be allocated DIRECTLY to BioAmber Inc (US)[/b]
25. Should the court approve the Proposed Transaction, the monitor as authorised foreign representative will apply to the United States court for an Order recognizing the Approval and Vesting Order that will be issued in the present proceedings WITH RESPECT to the US ASSETS.
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