GREY:AIIFF - Post by User
Comment by
rad10on Mar 02, 2015 11:03am
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Post# 23479693
RE:Knock, Knock - llROC
RE:Knock, Knock - llROCwoolwich wrote: TMX listing review likely driven by below-threshold prices, possible delinquency in paying listing fees, etc. Yet another example of Board and management incompetence. Sixty (60) days to rectify the matter failing which shareholders will find it particularly difficult to get any financial information. That could be a scenario that might work very well for Brookfield.
This could be the week when directors and execs begin to bail. In any event why are not hundreds of debt or share holders not bombarding the ARF offices with calls and e-mails demanding immediate information?
What makes you think we aren't?
The company needs a really good quarter. EBIDTA is not enough to cover the debt etc. I agree the company needs to recapitalise - but the BAM proposal is going to result in a string of lawsuits if the newco is formed at the expense of existing noteholders.
2 month time scale to find a buyer is not enough IMHO (date of interest payment on senior notes plus cure period). Noteholders may fare better under bankruptcy and may force the company's hand unless a more equitable proposal is floated.