Replies to post #110302 on BioAmber Inc fka BIOAQ

[toncatmad]

There was never two bids for the business as a whole. If you simply read the monitors reports those two companies never actually turned in an LOI. The only bids received with their LOI’s are listed in the 6th report.
No way the creditors or judges would allow PWC to hide two bids from the process.

[Brucebannerr]

Fact is nobody offered to take on the debt and the shares . Please provide something to back up this fantasy . Or your general question is meaningless.

[Real McCoy]

There were not 2 bids for the company as a whole. They started the bankruptcy with a lot of hope, and I am sure had a lot of hopeful discussions, but no offers to be bound by such terms actually materialized. Pretty clear from the 6th Report that the Monitor accepted the highest bid possible, and that was confirmed when the judge approved it. It is the judge's duty to be sure that the course of action chosen is in the best interest of all stakeholders and in accordance with prior agreements, and in this case that meant taking the highest bid for the assets even though it meant wiping out shareholders.

[Lifetime]

Good grief.... read the monitor’s reports.