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Post# of 147749
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1manband

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1manband

Re: BeetBroker post# 59342

Wednesday, 02/06/2019 12:04:07 AM

Wednesday, February 06, 2019 12:04:07 AM

Post# of 147749
Chapter 15 IS bankruptcy.

It was transferred to Chapter 15 from Chapter 11. The same terminology is used when a company transfers from Chapter 11 to Chapter 7, for instance.

And the Chapter 15 is superior to the CCAA proceedings. Which means the Chapter 15 Bankruptcy in the US will ultimately dispose of the debts and equity of BioAmber Inc., which is a Delaware Corporation. Not a Canadian one. Which means the common stock WILL be cancelled upon the conclusion of the bankruptcy.

That is how Bankruptcy works. It is the LAW.
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