BioAmber Inc (fka BIOAQ)

[trader59]

A scrap vendor likely would have had to clean up the chemicals used in the corn sludge processing, then would have to disassemble it all and manage the sales process. That ain't cheap. I don't recall seeing any interested parties or bids on the facility for that purpose.

Bankruptcies are brutal, the secured lenders are getting a little over $5M of $40M owed, secured creditors owed another $40M are getting nothing, plus whoever the other "obligations" the monitor and judge have spoken of also get nothing. Whatever scrap value the plant had still wouldn't have covered the secured lenders, much less the other obligations, and still no recovery for shareholders.