Replies to post #66068 on BioAmber Inc (fka BIOAQ)

[trader59]

The assets of the company were sold in liquidation for $4.34M. That is very well documented and is fact.

With the assets gone, BioAmber is an empty paper company, nothing more. It also owes creditors and other liabilities of over $80M, and the proceeds of the asset liquidation and from the accounts receivable and inventory sale barely scratch the surface of that. When the funds are distributed to the only creditors who get anything, there’ll be about $80M of debt left unpaid.

This company may have entered this process hoping to reorganize, but that ship sailed the day the SISP failed to get a single bid and the liquidation happened. It’s over. The judge will discharge the remaining debt and equity (shares), and BioAmber will cease to exist.

[Psychodman]

Take it to the bank, PWC did not count contract and licensing right values in the deal, if they did, then PWC would have lied in the latest monitors reports, where PWC stated as such. Like Ty said $1.64 was the distressed value (FMV)

I can not understand how in good faith a monitors report can be issued stating little or no value on items that have never been reviewed. I would really like to see the communications between Visolis and PWC, where it’s stated that “the purchaser did not insist on contracts and rights being part of the deal”.
I want to see WHY Visolis didn’t insist on this. If they were never reviewed by PWC, is it being said that Visolis did or didn’t have access to review these items. It’s too convenient just to say that it all happened that way by chance.