Replies to post #137885 on BioAmber Inc fka BIOAQ

[trader59]

In this case, CCAA/BIA is a distinction without a difference. The US has Chapter 11 and Chapter 7, Canada has CCAA and BIA. So what? Companies still get liquidated and shut down in Chapter 11.
This other excerpt from that same judge's order seems to get ignored for some reason:



An appraisal isn't a sale price, and even at that distressed value, shareholders and all the unsecured creditors would still have gotten nothing. Some secured creditors would have gotten more.
Under the "scrap" theory, you overlook the costs of doing so. It was a chemical plant, and would have to be cleaned up for scrap. And, yeah, there was a desire to sell to someone who intended to operate the plant, pay taxes, employ people, more taxes, etc.
The "seeming inconsistencies" are just more made up nonsense to further the fairy tale. The case was closed over 4 years ago, plant sold over 5 years ago, approaching the 4th year anniversary of the stock ticker being deleted, and all this without even a whisper from the company itself which you and others pretend to believe is secretly in operation.

[toncatmad]

Now highlight the rest of that passage. So the shareholders should decide how to proceed if warranted.
Well there ya go. You all own a piece of a debt ridden shell with Zero assets, employees, BOD, trademarks, trade name , patents, IP, plant or anything else. The corporate charter has been voided by Delaware as the shell has filings and taxes overdue. The shell doesn’t even have a registered agent.
So if I do some quick figures your nameless shell is in debt to the tune of $60-80 mil.
I say go for it. Get everyone together and pony up the $60 plus million to pay all the bad debt that is if you can even get the judge to allow it.

[Real McCoy]

There are no material inconsistencies with bankruptcy and liquidation. The company is not active and has no employees or assets of any kind. It has not been heard from since.