Wrong, there is actually a unsecured creditor that is no impaired, in fact they got a 20%+ premium on what they were owed. Considering BioAmber has “no money” that’s impressive
BioAmber wouldn't be restructuring under the Companies' Creditors Arrangement Act and would instead be in bankruptcy or receivership under the Bankruptcy and Insolvency Act
Buts it's not true.
This is not a Bankruptcy, they are working on an arrangement with creditors....
It seems most have a pinkyland fantasy about "US BANKRUPTCY LAW" - what they don't understand is this is under the Federal Companies' Creditors Arrangement Act.
Any links or screenshots of PWC stating that the Restructuring or CCAA proceedings have failed?? Nope
Any links or screenshots of PWC stating that shares will be canceled?? Nope
Any links or screenshots to state that the CCAA proceedings are not the MAIN PROCEEDINGS?? Nope