Replies to post #66270 on BioAmber Inc (fka BIOAQ)

[1manband]

Sorry, but Chapter 15 is not more flexible than Chapter 11.

The exact same laws of the US Bankruptcy Code apply. It just means that much of the day-to-day decision are made outside the US.

The common shares WILL be cancelled.

[daytrademoney]

Secured claimants are going to be paid. Which means shareholders are okay? Right or wrong?
PWC stated secure claimants are going to be paid, can't deny them stating that.

[rbtree]

All that said, no matter. The assets have been sold, the company is now a shell. It, the ticker, and the stock will be gone in time. Be patient.

By the way, you beat me..sanitized reply was ready..lol.

[Brucebannerr]

Wrong they were forced into bankruptcy. CCAA does nothing but hold the creditors at bay . When the stay is lifted and ccaa end the debt ridden shell will be back in Delaware bankruptcy court with millions in debt and not a penny in the bank . Poof its gone !

If a class of creditors or the Court does not approve the Plan, the company does not automatically go into bankruptcy, but the Stay is lifted. However, once the Stay has been lifted, the pressures that caused the company to initially file for CCAA protection from its creditors will likely return and, accordingly, it is quite likely that the company will be placed into receivership or bankruptcy.