Replies to post #43748 on BioAmber Inc fka BIOAQ

[Penman1]

The key decisions impacting the sale of BioAmber assets were made in accordance with Canadian CCAA law. [You can look at some of the sticky posts above for more info.] Meanwhile, BioAmber consists of a U.S. corporation (with U.S. assets) and Canadian corporations (with Canadian assest) it owns. The document you've read is related to the U.S. corporation in a Chapter 15 bankruptcy process, which occurs in an instance where a corporation is operating in two sovereign jurisdictions, with the key decision being made by non-U.S. jurisdictions.

Essentially, the U.S. Court under Chapter 15 will accept the decision by the Canadian court (unless there is a reason not to, for example, some hanky-panky involving "insiders"). Page 15 apppears to be a pro forma set of paragraphs included in an Chapter 15 decision, not necessarily directly impacting the BioAmber case directly.

What we're waiting for is the final purchasing details negotiated by PWC on behalf of the Canadian gov't under CCAA and BioAmber, which have not been made public yet.