Replies to post #102400 on BioAmber Inc (fka BIOAQ)

[TheRealMrPirate]

No complaints, that's the catch. Anyone = **Anyone** could have objected to this with the court. There was an open window, secured / unsecured / shareholders / anyone....The secured stakeholders aren't getting zero, the equity holders certainly are getting zero, see the difference? No one filed any objections but instead sat back & watched Bioamber get stripped of it's assets.... So maybe next time huh...

[Brucebannerr]

The creditors did complain and they got a little more zero . As usual your posts are sadly lacking any fact . Not sure what part about experiencing substantial losses is confusing . Now either the judge is flat out lying. Or the crows are ? Cawwwww

The senior secured lender the Comerica Syndicate who with $1,622,000 will
nevertheless be experiencing a substantial loss as well as the creditors holding recognized
contingent secured claims Mitsui & Co., Ltd. ($518,210) and Bridging Finance inc.
($154,790); all other secured creditors will not recover any of their advances nor the
unsecured creditors' claims, bearing in mind that the secured and unsecured creditors of
BioAmber rank ahead of the stakeholders (the shareholders);
Once the final distribution is authorized by the Court, there will be no other funds available
to maintain the Monitor (or a new Monitor) in place especially considering that the
liquidation of the Petitioners' assets is terminated.
[63] At the hearing, the lawyers for the Comerica Syndicate, Mitsui & Co., Ltd. and
Bridge Finance Inc. all objected to the continuation of the CCAA proceedings that would
be unnecessary under the present circumstances and strenuously objected that any of
the realization proceeds presently held by the monitor, proceeds that belong to their
clients, be utilised for any purpose other than be remitted to their clients in accordance
with their respective priorities