BioAmber Inc (fka BIOAQ)

[Brucebannerr]

Yes the plan was approved by the secured creditors. They are the only ones seeing a penny . Have you voted on a plan ?

Ultimately, the company files its Plan of Arrangement and forwards it to the creditors/shareholders. A meeting of the creditors (and shareholders, if applicable) is called to vote on the Plan. For the Plan to be binding on each class of creditors, a majority of the proven creditors in that class, by number, together with 2/3 of the proven creditors in that class, by dollar value, must approve of the Plan presented to them.