BioAmber Inc (fka BIOAQ)

[Brucebannerr]

Yes the judge seems to believe the monitor more then the shareholders spinning fantasies.

[105] In closing. it is also relevant to point out that in the present instance, the undersigned was directly involved since May 2018 throughout every stage of these CCAA proceedings and benefitted, inter alia, from the valuable and timely information that the Monitor provided with Its thirteen detailed Reports.

[106] Other than the late intervention of certain shareholders who with all due respect, may possibly not be fully familiar with all relevant aspects or circumstances of these CCAA proceedings, the Court has no indications whatsoever that the Monitor acted herein in bad faith and failed to execute falthfully, properly and honestly the mandate granted by the Court to the prejudice of the Petitioners and of the secured and unsecured creditors who for the most part are expenencing substantial losses as a result of the present liquidation process.

[107] The shareholders must remember that in the present context, they were not entitled to any of the proceeds from the realization of the Petitioners’ assets before the secured and unsecured creditors of BioAmber being paid in full, which is far from the reality.

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