Replies to post #137837 on BioAmber Inc fka BIOAQ

[Real McCoy]

?

It was a public auction. They listed all the bids and accepted the highest one.

[TheRealMrPirate]

Actually, 4.34 bags of corn.
PWC doesn't chose sides, they were appointed by the court to oversee the process.
There is no incompetence & no one gave away the company.
The creditor's decided what was acceptable, it was their money owed & their money on the line.
(1) No patents, licenses, intellectual property, etc, remains with Delaware 46120687.
ALL ASSETS sold to LCY through this process.
(2) the property of BioAmber you refer to does not legally exist. The trade name "BioAmber" was sold through the process.
The remaining entity is Delaware 46912067.
Clearly documented in black print.
You know, reading the monitor's reports would really help you in the understanding dept.

http://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-049_020819.pdf

[trader59]

"Investor money" was gone as soon as there were no bids in the SISP and it moved into liquidation. There was no way investors were seeing a recovery, considering the creditors, administrative costs, and other liabilities would have to be paid first. PWC coordinated a bidding process amongst 80 or so prospective bidders and took the best bid with the approval of those creditors and the 2 federal courts, and they did it right out in front of everyone. The only other bidder that bitched about it at all had offered $3.5M with a potential $1M more.