GREY:LSTMF - Post by User
Comment by
BluSky23on Dec 31, 2016 6:23pm
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Post# 25657305
RE:Deal is DONE 100% of assets go to Ridgeback
RE:Deal is DONE 100% of assets go to RidgebackOilman or others, I have a few questions. Since Ridgeback forced the resignation of the Lightstream board, funding the wind down, and excess funds go back to Ridgeback, did they buy assets or did they buy the whole Lightstream business. ALL employees went to new company. If they bought the whole company, why didn't they offer to buy all the shares at a nominal amount of .0001? News says that Lightstream has no active business. Does not seem normal for CCAA. Doesn't a company buy the worthwhile assets, strip out employees, sell rest in fire sale and claim bankruptcy? Not happening here. We own shares in something, what is it? Bankrupt company or court ordered beneficial owners of the debt. If I was a new owner, and all my employees were owners, be a benefit to give them a share of the go forward company. Please clarify Oilman, I'd appreciate it was dealt with maturity, fact and practice, not petty name calling.