BioAmber Inc., the Delaware parent company, is also in bankruptcy in the US because they not only guaranteed a sizeable portion of their Canadian subsidiaries liabilities, but they have a large number of liabilities of their own. All of which they cannot pay, as the parent corporation has no operations or significant assets outside of the Canadian subsidiaries.
That is why they are in bankruptcy in the US and have also liquidated the US assets in order to pay the US creditors. And it is why the equity will be cancelled, as they cannot hope to repay their massive debts.
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