BioAmber Inc fka BIOAQ

[dalesio_98]

You guys should seriously take a look at the Xebec Adsorption CCAA file. September 29, 2022 Xebec pulled the plug filing under creditor protection, one month after the company indicated all was well.

Far more complex than the BioAmber file with North American and overseas subsidiaries/divisions being sold off piecemeal through the SISP. It appears the Deloitte Monitor will wrap up the file over the next few days, stay extension to March 17, 2023, there were 2 DIPs along the way.

Recall, under CCAA, shareholders are not stakeholders, equity claims are last on the list and only collect once creditors are made whole.

The XEBEC Board, Monitor, financial advisors, law firms, entities acquiring subsidiaries/divisions all get releases (immunity). Sounds very familiar, n'est-ce pas.

Deloitte Monitor CCAA files that I am aware of are efficient and fast, unlike PwC CCAA files that are very long.

Deloitte - Stornoway Diamonds CCAA file, duration 4 months; Xebec CCAA file less than 6 months.

PwC - Orbite Technologies Inc. CCAA file is extended to May 2025, if completed at that date, duration just over 8 years.

Deloitte Monitor webpage

What happens if this was a preplanned event and the peoples involved did something illegal And got caught ? What happens if PWC did things they were not supposed too , the reasons that caused the liquidation are very much in question. Nobody knows all the facts especially when PWC had a person there working for them with prior knowledge of BioAmber before the liquidation. Lots of moving parts that point to impropriety . There is a lot of eyes trying to understand the $ 4.3 million . PWC made many contradictions in the process. There is a reason people are still asking questions and looking for answers .