Bio-on is studying the option of a potential debt restructuring.
The purpose would be to avoid the dissolution of the company, to preserve business continuity and to save employments, the technology and the start-up mentality.
How would they do it? By using insolvency procedures.
Plastic News – 29 May
If they do so, they would reorganise the company in an objective and subjective way.
- Bio-on was listed on the Italian Stock Exchange.
- A US company published a report on Bio-on and the share value collapsed. It lost 90 % in one day.
- Bio-on CEO (Marco Astorri) was put under house arrest and Bio-on was set under Administrative Guardianship.
One important detail.
Marco Astorri has not yet been convicted and is still “innocent” until proven otherwise….that’s just a basic human right, the fundamental of our western democracy.
- Frost & Sullivan Awards Bio-On for Best Cosmetic Innovation
- Agreement between Bio-on and Innova Imagen for the production of Bioplastic in Mexico
- Bio-On and Moore Capital Agree to Build a PHA Plant in Brazil