2242749 Ont Ltd. AIIFF

fairly clear now

[rad10]

We are better off in CCAA - the executive have no sense of obligation to their common shareholders and are fully invested in the "Brookfield arrangement"

The debentures are now trading lower than those issued by companies currently under CCAA.

[2Greying]

I agree....Anderson is not working for shareholders only Brookfield. Brookfield may be in for a bit of a surprise if they go CCAA. Board of Directors will likely start to resign shortly...may worry about liabilities.

[alkhor]

Won't CCAA kick in automatically at the end of April due to the non-payment of interest on the notes?

[rad10]

The aim is to strip out the assets and start a newco with Brookfield - tiptoeing through the legal minefield.  The aim from the outset has been to destroy the market value of the senior and unsecured convertible notes along with the stock price. Rather self serving strategy to preserve jobs, maintain relations with trade creditors whilst pandering to Brookfield. The sooner we get an

[alkhor]

They cannot turn over the assets of the company to Brookfield or Newco without shareholder approval, which they will never get with the deal they have in place now. They will have to give the shareholders and debenture holders something to get the approval. Remember, shareholders own the company, not the management team.

[2Greying]

I agree but what if Brookfield has gathered up control of the shares and debentures? Nothing would surprise me anymore...Anderson is working for them. I hope the noteholders can force it into bankruptcy....that way everyone is treated fairly....won't get much though.

[llennn]

I don't really think people are in tune with the spectral theory of ordinary differential equation such as derived from bare debentures and they tend to possibly mix up the preemptive right to basic as its unsecure and it goes back to risk taken or not deploying risk out wards and thus diversified portfolio balancing from the fulcrum of risk itself, as risk is present and for most part does

[alkhor]

I'm not positive, but I believe Brookfield cannot vote their shares to approve the deal.. According to SEDI, Brookfield own nothing.

[woolwich]

Nearly 30 people have posted comments on this board during March alone.  Virtually all believe that financial rape and pillage has been and continues to be inflicted on shareholders, note and debenture holders.  There is no evidence that either the Directors or senior executives have been working in the interest of the current owners of ARF.  Yet none on this board