Nemaska Lithium Inc NMKEF

NMX Didn't File For Bankruptcy

[phantom666]

They filed for creditor protection....The Companies' Creditors Arrangement Act (commonly referred to as the "CCAA" or the "CC, double A") is a Federal Act that allows financially troubled corporations the opportunity to restructure their affairs. By allowing the company to restructure its financial affairs, through a formal Plan of Arrangement, the CCAA presents an opportunity for the company to avoid bankruptcy and allows the creditors to receive some form of payment for amounts owing to them by the company......The process begins in the Court system when the company applies to the Court for protection under the CCAA. The Court will issue an Order giving the company 30 days of protection (often referred to as the "Stay") from its creditors to allow for the preparation of the Plan of Arrangement. The Court can extend the Stay against the creditors upon further application to the Court by the company. Typically, the Court will continue the protection beyond the initial 30-day period if the company can demonstrate that it is likely that it will file a Plan of Arrangement and an extension of the Stay is not prejudicial to the creditors, as a whole. There is no time limit on how long the Stay can be extended. During the Stay period, the company will often continue operating, although it may commence restructuring activities at any time.

[Wanchorman]

This post has been removed in accordance with Community Policy

[TeddyBear]

retail are unsecured shareholders not creditors = in the AS$

[Wanchorman]

This post has been removed in accordance with Community Policy

[phantom666]

For all of yous that a have a good memory but short The Plan of Arrangement was mentioned in the July 19th NR..."Arrangement Pursuant to Section 192 of the Canada Business Corporations Act....Nemaska Lithium sought a preliminary interim order pursuant to the Canada Business Corporations Act, a federal law in Canada under which a solvent corporation can efficiently implement such a complex

[TeddyBear]

Arrangement Pursuant to Section 192 of the Canada Business Corporations Act IS NOT Companies’ Creditors Arrangement Act (“CCAA”)

[dandu1924]

Sorry, Stornoway (SWY) did the same pattern and look today, Stornoway is just a ghost. I told you that a fews months ago, Nemaska is going to bankrupty. This is funny how some on this board they still believe in this kind of dead company, same thing happened with  ORT, SWY  and many others but this kind of board keep the people busy. Very good.

[TeddyBear]

only hope to recover small bucks is a sale of mine

[dandu1924]

Sorry to say that, the shareholders are in the bottom of the list to get some money, in this case only the GOV and their friends gammick will get their money or part of their money, this is how is working in Quebec-Canada,  the big shark got the little fish.   Same story over and over again.

[TeddyBear]

agree retail most probably zero (as in Canada Lithium, Stornoway), IQ should recover their investment as secured creditors and mine is worth more than their investment.

[dandu1924]

Ola, what a Christmas Gift, very good timming, don't you. 

[TeddyBear]

assume they will layoff more employees, just keep high salary great baboon