New Delaware Chapter 11 Filing – BioAmber Inc.
BioAmber Inc. (OTCMKTS: BIOA), a chemicals manufacturer based in Saint Paul, Minnesota, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-11078). According to a press release issued on May 4, 2018, BioAmber’s Canadian subsidiaries, BioAmber Sarnia Inc. and BioAmber Canada Inc., have filed a Notice of Intention to reorganize under the Canadian Bankruptcy and Insolvency Act, with PricewaterhouseCoopers Inc. as trustee. It is not yet known if BioAmber’s Canadian subsidiaries will file Chapter 15 petitions in the United States. A motion to appoint a claims and noticing agent has not been filed. The case has been assigned to the Honorable Laurie Selber Silverstein.
Contact Norman L. Pernick or G. David Dean for more information regarding this matter. Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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