Common shareholders have no stake in the recovery achieved. It is certainly not a good result for most. But that is what happens in bankruptcy liquidations, a lot of people lose money.
Besides what is a "stakeholder interest"? It was boilerplate language used by PwC in justifying the selection on the "best" offer received by the bidding parties to the assets.
Every "stakeholder" in BioAmber Inc. has a different "interest". Those who bought the stock at $2 have a very different interest than those who bought at $0.02. However if the "interest" of the $2 is going to be protected then there would literally have been NO REASON to declare bankruptcy, much less have to go to liquidation. The interpretation of that statement by many is simply inconsistent with, and not supported by, the volumes of information and direct and specific statements by PwC and the company.
People are relying way too much on that statement and leading themselves to believe all will be good, when PwC and the company have told shareholders DIRECTLY and SPECIFICALLY that they will get no recovery in this process.
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