Replies to post #90699 on BioAmber Inc fka BIOAQ

[Sorhay86]

Explain why everything is still in BioAmber’s name, despite the FACT bankruptcy/CCAA closed?

[buckeyefan1971]

Wrong again! Please read the document in it’s entirety. Little snippets result in loss of credibility.

[JohnR767]

So what if they filed for it they are not in it anymore!

[LETSWIN2020]

Either we win or lose. Place your ba*** on the right side lol We shall see

[LETSWIN2020]

If share is suppose to be cancelled why was no direct link or mention by the judge or PwC for 18 months??

[CSCS]

CHAPTER 11 CLOSED

CHAPTER 15 CLOSED

BIOAMBER INC IS NOT BANKRUPT!!!





SMH

[Koan]

BioAmber Inc.: What happened to Chapter 11?


The following is factually incorrect on two levels:

This company filed for bankruptcy under Chapter 11 of the US bankruptcy code, and that's because it is a US corporation. It was transitioned to Chapter 15 because the the Canadian subsidiaries (Sarnia being the predominant operating entity of the company).

No.

Chapter 11 was not "transitioned". The Chapter 11 was "dismissed", and subsequently terminated. Here is the motion for the Chapter 11 dismissal:



The second point is why it was dismissed, also incorrect. So there is what occurred, and why, noted as follows:

1. What occurred? DISMISSAL
2. Why did it occur? BEST INTEREST OF EQUITY HOLDERS


NOTE WELL THE FOLLOWING:

One of the options the judge had was that instead of dismissal, she could have ordered a suspension of the Chapter 11 upon granting the Chapter 15. Choosing suspension of Chapter 11 would have indicated that the judge determined that BioAmber Inc. was itself in need of restructuring, and that restructuring would occur upon the conclusion of the handling of the foreign subsidiaries under the CCAA.

But the judge did not choose that option.

Finally, BioAmber Inc. reported in their filing that their assets exceeding their liabilites.



Do Govern Yourselves Accordingly.