BioAmber Inc (fka BIOAQ)

[Brucebannerr]

Wrong they were forced into bankruptcy. CCAA does nothing but hold the creditors at bay . When the stay is lifted and ccaa end the debt ridden shell will be back in Delaware bankruptcy court with millions in debt and not a penny in the bank . Poof its gone !

If a class of creditors or the Court does not approve the Plan, the company does not automatically go into bankruptcy, but the Stay is lifted. However, once the Stay has been lifted, the pressures that caused the company to initially file for CCAA protection from its creditors will likely return and, accordingly, it is quite likely that the company will be placed into receivership or bankruptcy.