BioAmber Inc fka BIOAQ

[trader59]

No, they didn't say that the KERP has been paid. The DIP lender was paid, as that was the bridge loan to pay the bankruptcy proceedings, and they were first in line to get paid back. The secured creditors have been paid a total of $3.5M in an interim payment, the rest of the $40M has not and will not be paid in full.

And the KERP bonuses were not paid, the judge ordered that they wouldn't be paid until the secured creditors were paid in full. That's as clear as day, both the requirement and the fact that it has not happened.