GREY:BXEFF - Post by User
Comment by
pennydredfulon Apr 22, 2020 8:46pm
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Post# 30942480
RE:RE:RE:RE:From SEDAR
RE:RE:RE:RE:From SEDAR
Thanks . I think National will get paid 100% as they are in first position. There are then general creditors like suppliers owed money . Not sure where they stand versus second lien and third lien . There are also leases outstanding so do these get paid off 100% or just brought up to date? The ones likely to go to court and fight for their rights are 2nd lien , 3rd lien as debt is likely in a few hands that can retain legal counsel . The management make their case to the monitor and then if it passes there goes to court for approval. Presumably they will put forth all the rationalle to the stakeholders who could chose to go to court if they thought it would be worth while . Perhaps stakeholders could come up with a higher offer once they see the low ball one ?