BioAmber Inc (fka BIOAQ)

[TenKay]

The article was making a direct statement about CCAA view on equity interest claim priority which is entirely and completely applicable to this question of where CCAA would view equity claims relative to debt claims.

They are subordinate.

If someone wants to ignore that fact because it’s an article with a broader discussion of CCAA and Chap 11 comparison...that’s up to them...but it doesn’t change the import of the fact that a majority of the debt claims in BioAmber will NOT be satisfied...ergo...the equity claims get nothing.

Another good read...(hint: equity claimants are not “stakeholders”)

http://www.insolvency.ca/en/whatwedo/resources/IIC_LawAward_2012_3-M-Kril-Mascarin_EquityClaimsUnderCCAA.pdf