Thursday, April 11, 2019 10:16:28 AM
This theory (and that is a stretch, it is simply a misrepresentation to support a stock sale) about what the statement means is easily proven to be completely false.
Here's the requirements of the KERP payment to be made as ordered by the judge:
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-019_071918.pdf
And here is the order for the only payments to creditors the judge has authorized thus far:
https://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-046_121718.pdf
Secured creditors have been paid a total of $3.5M thus far, and that's less than 1/10th of the amount the secured creditors are owed. Unless some documentation appears where the monitor says they stumbled upon $40M and are requesting authorization to pay off the remainder of the secured credit, this theory/misrepresentation is patently false. Give it up.
Here's the requirements of the KERP payment to be made as ordered by the judge:
https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-019_071918.pdf
And here is the order for the only payments to creditors the judge has authorized thus far:
https://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-046_121718.pdf
Secured creditors have been paid a total of $3.5M thus far, and that's less than 1/10th of the amount the secured creditors are owed. Unless some documentation appears where the monitor says they stumbled upon $40M and are requesting authorization to pay off the remainder of the secured credit, this theory/misrepresentation is patently false. Give it up.
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