The Mitsui document again makes it crystal clear ALL the assets sold for $4,340,000, with the US portion determined to be worth about $150,000.
Mitsui is a secured creditor in Canada, but they are in 3rd position and thus are getting nothing (if shareholders were "getting paid", then BY LAW Mitsui would be guaranteed to get paid 100% of what they were owed, so there would be no need to object, would there?). BUT, Mitsui, through the guarantee signed by BioAmber Inc., is the FIRST secured creditor in the US. Therefore, they want as much of the $4,340,000 paid for ALL the assets to be allocated to the US assets, because 100% of that allocation would go directly to them.
