RE:Q1 FinancialsWhen a company files for CCAA protection, I believe the company gets relief from certain reporting obligations under securities legislation and stock exchange rules. So I assume we are not going to see any Q1 financial statements. If the company is actively looking to launch a SISP then all that information I would assume is being package up for potential buyers.
On CEO.ca a few people have mentioned that BJK Holdings would have final say in a sale. I'm not sure that is correct information as the purpose of the CCAA is to get protection against the lender (i.e. BJK Holdings). The CCAA gives the company time to prevent liquidation or bankruptcy and the monitor is the eyes and ears for the court in the process of this restructuring phase of the company or sale through a SISP. The monitor is expected to remain impartial, but help the company complete the best course of action for those involved. So if a sale of the company works out to be in the best interest of the company, shareholders and the lender where the lender gets their debt paid back then I have a hard time seeing why the lender would have final say in that and would be able to kill the deal for their own greed of taking over the company through bankruptcy. That doesn't seem to make sense.