As the story goes, in the 6th Century, a severe plague was inflicting the northern regions of Iraq, what would today be the city of Mosul. Out of desperation, the people ran to their Bishop to help them with this plight. A three day fast was declared, and the city was not destroyed. On the fourth day, the Chaldean people rejoiced, giving rise to Baoutha.
Baoutha is a word which in Aramaic means "pleading." Since the actual event, Chaldeans all around the world have celebrated this by fasting for three days. In modern days, this event is treated as a penance, wherein people ask for forgiveness.
We have several people in the office who celebrate this holiday.