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trader59

04/14/19 9:26 AM

#68031 RE: TenKay #68028

And the beat goes on...

There’s no statement, motion, or order from the monitor or court that says “your honor, we’re going to pay off all the debt, now, with your approval.” Instead, we think payment of the debt has been somehow kept off the books and PWC is just messing with us by putting clues to it sprinkled around other documents. “Hey, look, I found a $2k settlement with an unsecured creditor related to some lease that was unpaid. That means they paid the secured creditors $40M and we’re gonna be rich!!!”
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CSCS

04/14/19 12:11 PM

#68039 RE: TenKay #68028

I don't have to Ask the Monitor why they made an agreement with a non-priority secured claimant before paying off all the secured claimants...

I suggest consulting a professional advisor if anyone is having trouble understanding how the CCAA process works as suggested by PWC...

1)Secured
2)Unsecured

In order to pay 2), all of 1) must be settled...

Its simple stuff.

https://www.pacermonitor.com/public/filings/DZWD3X6I/BioAmber_Inc_and_BioAmber_Inc__debke-18-11291__0031.0.pdf


https://www.pwc.com/ca/en/car/bioamber/assets/bioamber-007_053118.pdf