Replies to post #86780 on BioAmber Inc fka BIOAQ

[trader59]

Ownership of the plant was "vested" to the joint venture by judge's order. The title will reflect that once the liens are released and cleared. The clock is ticking very loudly now that the vesting order is reflected on that title.

A "vesting order" is a tool that courts may use to transfer the ownership of land to another entity, without a formal legal conveyance, in circumstances where the court considers it fair and just to do so.

Vesting orders are often sought and obtained in the context of bankruptcy proceedings, particularly when the bankrupt party owns property, but another party also has some entitlement to ownership of that same property.

https://www.pallettvalo.com/news-centre/newsletters/ontario-court-of-appeal-provides-long-overdue-guidance-on-vesting-orders/?utm_source=Mondaq&utm_medium=syndication&utm_campaign=View-Original