GREY:LSTMF - Post by User
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reefsandals4evaon Jan 26, 2017 12:20pm
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sept. 9 2016 news release pg.2
sept. 9 2016 news release pg.2As previously announced, under certain circumstances, including if the Unsecured Noteholder litigation is not settled in a manner satisfactory to both the Company and the ad hoc committee of certain Secured Noteholders (“the Ad Hoc Committee”) on or before September 16, 2016, or if the Company’s lenders decide to exercise enforcement rights in respect of the Company’s existing credit facility or if the Recapitalization does not receive the requisite approval of each class of securityholders at their respective meetings, the Company will discontinue the Recapitalization and commence proceedings under the Companies’ Creditors Arrangement Act (“CCAA”