BioAmber Inc (fka BIOAQ)

[TenKay]

I’m afraid that a lot has been read into individual words and parsed phrases (while ignoring pretty much everything else) to support this notion of another transaction.

But as anyone can see there is no such transaction. The judge summarized the depth and breadth of the proceedings in some detail and there isn’t even a hint of such a thing. Quite the opposite.

Are you suggesting he just flat left it out?

There is no other transaction. The only stakeholders and parties in interest are the secured creditors with claims to the assets available. CCAA does not recognize “shareholders” as stakeholders in such circumstances as they have no claim to the assets.

As for “too little”...who is the judge of that? It’s all anyone was willing to pay. The Courts (as final arbiter) approved the sale. Case closed.

Yes it was pennies on the dollar...but newsflash...this was a distressed liquidation. Pennies on the dollar is what is to be expected.

Bankruptcy liquidations are brutal.