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It seems you don't understand the function of

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I-Glow Member Level  Wednesday, 06/19/19 10:25:58 AM
Re: HymanMinsky post# 75913
Post # of 79684 
It seems you don't understand the function of the CCAA.

For the CCAA the scope of POA is up to the discretion of the court - and the court ordered the liquidation of the BioAmber assets.

The restructuring option wasn't available after the Court ordered first sale - going concern didn't produce any bidders. Then it was time for liquidation.

Since the Equity will be cancelled that is why the shareholders didn't vote on the Plan - the Court assumes the shareholders will vote against the Plan.

On May 24th the Court ordered:

"authorizing a distribution of net proceeds from the sale of the Debtors' assets to the Debtors' secured creditors"

IG

"Are you gonna pull those pistols or whistle Dixie?"
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