Sheesh
Here it is in a nutshell. BioAmber entered both Chapter 11 bankruptcy in the US (dismissed to move to Chapter 15 due to the Canadian subsidiaries) and CCAA hoping to be able to restructure, refinance, reorganize, or sell the whole company.
That failed when the SISP failed to get a single bid. They then liquidated the assets for $4.34M, sale closed in October.
All of the above is clearly documented fact.
So, this company has now been "restructured" into an empty, debt ridden shell. About 5% of the total debt will be recovered by 2 secured creditors, the rest will be discharged by the judge along with the equity, and this company will cease to exist.
That's what happens every time an empty shell can't pay its debt. Every time.
So, I ask again. What is the expected "restructuring" of an empty, debt ridden shell.
