bankruptcyde-listing seams likely as acquisition seams unlikely;
EarthFirst has submitted the Nuttby project for a federal environmental assessment but has been unable to negotiate deals for wind turbines and warranty agreements.
its not even finished!
their other project is 10% finished; Dokie 1 wind energy project in B.C. incurred cost overruns of $35 million, and revised wind energy estimates meant that increased project financing would be required.
liquidation likely if they can't find buyers. Nothing is near finished = No credit = No buyers. This is done IMHO
reminds me of a scraped BC project Fast Ferries. the ships were sold for 10 cents on the dollar/
scraped wind turbines are worth what?
mm
Although CCAA protection enables EarthFirst to continue with its day-to-day operations until its CCAA status changes, the implications for EarthFirst’s shareholders are less clear. EarthFirst’s intention continues to explore a number of alternatives, including a sale of EarthFirst and the repayment of all creditors in full. However, the Plan must be approved by the requisite number and value of the affected creditors, as required by law, as well as by the Court. At the end of the restructuring process, the value of what is left for shareholders will depend upon the terms of the Plan approved by the affected stakeholders. If the Plan is not so approved it is possible that EarthFirst would be placed into receivership or bankruptcy. Every effort will be made to ensure that all stakeholders of EarthFirst are kept informed of developments as they occur.
T