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Northstar Signs MOU to Mine High Grade Zone 2 at Cam Copper Mine (click to learn more)
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Arcan Resources Ltd ARNBF

Energy Oil & Gas E&P


OTCPK:ARNBF - Post by User

Arcan Resources Ltd > think about it......
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Comment by pjn0987654321on Jul 18, 2014 12:41pm
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Post# 22759840

RE:RE:RE:RE:RE:RE:RE:think about it......

RE:RE:RE:RE:RE:RE:RE:think about it......"paying the debenture holders with stock would require approval from shareholders"

One way or another, the debenture holders have to be paid because if they are not, they can force the company into CCAA/bankruptcy. 

"but at a very low price"

I don't see that the bank becomes the Receiver and will be in a position to accept the lowest price that makes them whole and screws everyone else further down.  Court Appointed Receivers are officers of the Court and act on behalf of all creditors.

The vulture funds are of the opinion they can get 100 cents on the dollar for the debentures and say they have retained legal counsel.  In other words, if they think they are being cheated, they will take it to court. 

Your theory of the bank cutting a deal with LTS and CPG doesn't really hold much water.

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