BioAmber Inc fka BIOAQ

[Real McCoy]

They filed for bankruptcy protection knowing that they eventually would not be able to service their debts. It provided them an opportunity to recapitalize, and when that failed they were able to conduct an organized and orderly auction of the assets, which generated a small recoupment. Had they not filed for protection, they would have simply defaulted on their debts and everyone would have gotten nothing. This is why the result was deemed in the best interest of all stakeholders.