BioAmber Inc fka BIOAQ

[trader59]

Here's an update:

Chapter 11 was dismissed in the US so that the Canadian subsidiaries could be handled under CCAA. The bankruptcy is under Chapter 15 here now.
The restructuring/reorganization/recapitalization/refinancing/sale of the whole company failed to get a single bid. Nobody wanted it.
The company moved to liquidation, and the assets sold for $4.34M. This company is now an empty shell carrying $80M in debt.
Secured creditors only get partial recovery from the proceeds of the asset sale, the accounts receivable, and from the sale of the inventory that was on the books when the company shut down. That means unsecured creditors get nothing and shareholders get nothing.
Once the proceeds are distributed, the judge will discharge the remaining debt and the equity (shares), and this company will cease to exist.
Shareholders will lose 100% of their investment in this stock.