Replies to post #119847 on BioAmber Inc (fka BIOAQ)

[Groundskeep]

Liquidation scenario. Gotta love it

[Real McCoy]

Its not bankrupt under Canadian law, which would mean the assets assigned to creditors. Instead, within the CCAA, an orderly liquidation was executed, so a shell remains. PWC is not able to "hide" its involvement, LOL. No, nothing is waiting on any judges.

[TheRealMrPirate]

Incorrect... The list on PWC's site is "current insolvency assignments". Former: Bioamber is not a current proceeding, it has completed.
The proceeding is no longer a current process & the court appointed monitor has been discharged & has now archived the files....ie: "Insolvency"

Free link - https://legal-dictionary.thefreedictionary.com/insolvency

Insolvency

n. 1) the condition of having more debts (liabilities) than total assets which might be available to pay them, even if the assets were mortgaged or sold. 2) a determination by a bankruptcy court that a person or business cannot raise the funds to pay all of his/her debts. The court will then "discharge" (forgive) some or all of the debts, leaving those creditors holding the bag and not getting what is owed them. The supposedly insolvent individual debtor, even though found to be bankrupt, is allowed certain exemptions, which permit him/her to retain a car, business equipment, personal property, and often a home as long as he/she continues to make payments on a loan secured by the property. (See: bankruptcy)
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