BioAmber Inc (fka BIOAQ)

[trader59]

The assets of the company were sold in liquidation for $4.34M. That is very well documented and is fact.

With the assets gone, BioAmber is an empty paper company, nothing more. It also owes creditors and other liabilities of over $80M, and the proceeds of the asset liquidation and from the accounts receivable and inventory sale barely scratch the surface of that. When the funds are distributed to the only creditors who get anything, there’ll be about $80M of debt left unpaid.

This company may have entered this process hoping to reorganize, but that ship sailed the day the SISP failed to get a single bid and the liquidation happened. It’s over. The judge will discharge the remaining debt and equity (shares), and BioAmber will cease to exist.