BioAmber Inc fka BIOAQ

[Koan]

The secured creditors have way better lawyers than the shareholders, and they neither objected nor are suing anybody. Guess they understand bankruptcy proceedings.

Nah.

In the first place, there were many objections raised by creditors on a variety of issues throughout the CCAA. Some public and easy to verify, some private.

Second, there is limited overlap with creditors having an interest stake in both BioAmber Sarnia Inc. (with BioAmber Inc. being the sole shareholder), and BioAmber Inc. (where the shares are), so they would not have legal recourse with one company, while they may have legal recourse with the other. As has been stated many times, this is the kind of pesky complexity that has been long ignored.

Still, there has yet to be a document that either amends the articles to execute a cancellation of shares, or even an anecdotal explanation with a verifiable source citing a cancellation of shares, and this in regards to either company, e.g. BioAmber Sarnia Inc. or BioAmber Inc.

To use the ongoing logic thus far presented, why would this need to be hidden? Why would two federal judges, PWC, creditors, and attorneys representing the entire spectrum of contrasting interests need to hide that? Is there any real practical reason under the law that an amendment to articles or direct cancellation would need to be kept so super secret?

While we all wait for such an explanation, here are two possibilities:

1. The attempt to minimize risk against shareholder lawsuits.
2. Because it is not true.

The problem is that if an acquiring company wanting the bargain of century also does not want to be burdened by lawsuits, it is far better to navigate transactions under law in the most final way possible, (see document "REQUEST FOR BINDING OFFERS IN THE MATTER OF THE LIQUIDATION PLAN OF BIOAMBER SARNIA INC.", citing cancellation of outstanding shares by way of amendment of articles), versus leaving the entire situation in limbo and to the imaginations of all interested stakeholders, who will no doubt begin the process of calling attention to the countless incidents throughout this process that speak to gross negligence and willful misconduct.

Do Govern Yourselves Accordingly