No one is buying the common shares. PwC made that very clear when there were ZERO bidders for the entire company in the SISP process, which is why PwC proceeded to liquidation (and all the BIOAQ officers and directors resigned).
And this is one of the most basic concept of bankruptcy law. Unless all the debtors and creditors are fully satisfied, the old equity will be cancelled. That is the LAW, and there is no getting around it.
The commons are not being bought, and they will not survive. Which is exactly what BIOA and PwC said 3 weeks ago when the assets were being liquidated.
"Moreover, if an acceptable offer is received, the liquidation of the Company’s assets will almost certainly result in no residual value for non-secured creditors and equity investors."
The assets HAVE been liquidated, and there is not enough money for even all the secured creditors, much less the non-secured creditors or the equity investors (common shareholders). All are being wiped out.
Anyone holding BIOAQ shares at the conclusion of the bankruptcy will lose 100% of their investment.
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