Tuesday, July 16, 2019 7:29:00 PM
Right.
So, in this completely ficticious and imagined scenario, what is being suggested is that the parent company is dissolved under bankruptcy proceedings while the subsidiary company presumably sits there like a child without a mother and, as such will also dissolve.
The problem here is actual reality. In the first place, BioAmber Sarnia Inc. is not bankrupt; in order for this to be true it would have to either be declared by a court or filed, neither of which has happened.
Second, BioAmber Inc. is not in Chapter 11 as this was dismissed and, in the initial court filing BioAmber Inc. checked the box that there would be funds available for unsecured creditors, meaning there would be nothing for any judge to "dissolve".
So, what do I think will happen?
So, in this completely ficticious and imagined scenario, what is being suggested is that the parent company is dissolved under bankruptcy proceedings while the subsidiary company presumably sits there like a child without a mother and, as such will also dissolve.
The problem here is actual reality. In the first place, BioAmber Sarnia Inc. is not bankrupt; in order for this to be true it would have to either be declared by a court or filed, neither of which has happened.
Second, BioAmber Inc. is not in Chapter 11 as this was dismissed and, in the initial court filing BioAmber Inc. checked the box that there would be funds available for unsecured creditors, meaning there would be nothing for any judge to "dissolve".
So, what do I think will happen?
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