Replies to post #99629 on BioAmber Inc fka BIOAQ

[fireballka7]

thats what I thought, but folks around here keep saying that it didn't happen. everything I can find and read about it in CCAA docs, says what you say... it did happen. its documented like in your post.

[fireballka7]

also in my past post here, I saw where the Kerp could not be paid unless the secured lenders were paid in cash first... then I see where the kerp was paid in full, so what is one to think? its in the docs and this is what it says....

[trader59]

That's not an opinion, true, it's just another bunch of manufactured hogwash, not a bit of truth to it.

The assets were SOLD in the CCAA to LCYB for $4.34M. All accounts receivable were collected up and added to the proceeds of the liquidation and the sales of inventory, parts, and tools. All the bills were paid, the DIP lender was paid, the monitor was paid, the lawyers were paid, and all that left $5.2M to pay towards the secured debt of $40M.

That's it, nothing else was stated in the court records or monitor's reports nor implied.

The KERP bonuses were not paid, and it is a fabrication, again, to say they were. The bonuses were subordinated to the DIP loan and the secured debt, and those were not paid in full. That is fact.

The "KERP charge" was simply the mechanism to accumulate the funds to pay the bonuses, if the other requirements of the judge's order were met. THEY WERE NOT MET.

And the consolidation of the proceedings simply allowed the monitor the power to deal with (and liquidate) all 3 BioAmber entities, and that's exactly what they did.

HIGHLY RECOMMEND getting off Twitter and reading the court documents completely, as that will clear up all this BS folks are being fed.