Replies to post #99600 on BioAmber Inc fka BIOAQ

[lineItemVeto]

"What does this Mean?" - That means this was a bad investment from the gitGO

[trader59]

Toss up as many things that were subject to the KERP charge (which was different from paying the bonuses to the employees, it was how the proceeds for it were to be accumulated) as you wish. The simple fact remains that the payment of those bonuses required that the DIP lender and the secured lenders to be paid in full per the judge’s order:

[iron-eagle]

How could that happen? It's quite easy if you understand what the CCAA is/was for Bioamber. The assets were never consolidated in the CCAA proceedings. So 90 days AR overdue of 14m still excludes whatever AR they had come in; after about March 9, 2018; and since the AR in question is an asset of Bioamber Inc. it wouldn't make it to the cash flow charts of the CCAA because the CCAA is not a consolidation of the assets. If it did we would clearly see the 14m they listed in the Ch 11 paperwork that was overdue 90 days. So when it is says that the collection of the AR and sale of inventory would allow the creditors to move on; it means exactly what it means. That is why if you look at the motions to extend from 12/21/18 and onward it is only supported by the Petitioners. The Court granted the KERP Charge. The amount of the KERP is listed. All amounts owing to it have BEEN PAID. And the KERP Charge ranks behind the priority charges and ANY OTHER ENCUMBRANCES AFFECTING THE ASSETS OF BIOAMBER.

That is exactly what has transpired. The court docs support it. That is not opinion.