BioAmber Inc fka BIOAQ

[Koan]

"Pretty Much"

The ccaa will be closed . Then it will go back to the Delaware courts were priority is the law . Pretty much pennyless and debt ridden and in chapter 7 . Were all remaining debt will be discharged and the corporation will be dissolved. The Delaware court could care less who owns shares .

This vague and unclear reasoning demonstrates a fundamental lack of understanding for the CCAA and subsequent US Chapter 15. The CCAA case will not close and then somehow, magically, all of the sudden end up "pretty much in chapter 7".

It won't even somewhat much end up in Chapter 7, let alone slightly much, halfway much, partially much, nearly much, mostly much, or even so-close-you-can-almost-taste-it much.

Still, if the Delaware court could care less who owns shares (which, by the way, believing the courts do not consider such aspects is total fantasy), it is just as well under the ancillary US Chapter 15 and as having recognized a "foreign main proceeding", they could also care less about absolute priority rules and will rubber stamp the Canadian courts judgements under the CCAA.