AI
Thursday, April 11, 2019 3:46:39 PM
There are actually a lot of ways that the creditors could be paid in full in cash as per the bid criteria for LOI for Investments in BioAmber...
Let's not forget that a Plan of Arrangement has yet to be filed and voted on by the different classes of creditors... That's how CCAA works since it is the MAIN proceeding...
We have yet to see the entire LOI for Investment in BioAmber along with the attached LCY Letter (Critical Document)...
The attached OFFER(not LOI) for the ASSETS is in regards to the LOI for Investment in BioAmber Inc...
The LCY Letter or their LOI for Investment in BioAmber that would state how debt and stakeholders will be dealt with is not a public document.
But what is public is the Monitor's Report that states ALL amounts SUBJECT to the KERP CHARGE have been paid as of December 2018...
KEY EMPLOYEES stayed with the company through the proceedings for a proper commercial transition to new OWNERSHIP.
A 3 week Sales process does not allow to commit significant resources to the sale process or Allow the President of Visolis and CEO of LCY to discuss this opportunity in detail...
Since we are in CCAA which of the 3 ways is BioAmber going to conclude the CCAA proceedings...? BioAmber is not in Bankruptcy proceedings in Canada! CCAA Proceedings are still ongoing and HAVE NOT FAILED!
COMPLEX RESTRUCTURING
BID CRITERIA
Let's not forget that a Plan of Arrangement has yet to be filed and voted on by the different classes of creditors... That's how CCAA works since it is the MAIN proceeding...
We have yet to see the entire LOI for Investment in BioAmber along with the attached LCY Letter (Critical Document)...
The attached OFFER(not LOI) for the ASSETS is in regards to the LOI for Investment in BioAmber Inc...
The LCY Letter or their LOI for Investment in BioAmber that would state how debt and stakeholders will be dealt with is not a public document.
But what is public is the Monitor's Report that states ALL amounts SUBJECT to the KERP CHARGE have been paid as of December 2018...
KEY EMPLOYEES stayed with the company through the proceedings for a proper commercial transition to new OWNERSHIP.
A 3 week Sales process does not allow to commit significant resources to the sale process or Allow the President of Visolis and CEO of LCY to discuss this opportunity in detail...
Since we are in CCAA which of the 3 ways is BioAmber going to conclude the CCAA proceedings...? BioAmber is not in Bankruptcy proceedings in Canada! CCAA Proceedings are still ongoing and HAVE NOT FAILED!
COMPLEX RESTRUCTURING
BID CRITERIA
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