Post by
John104 on Nov 17, 2015 11:16pm
from price waterhouse
Regarding your inquiry on Southern Pacific, unfortunately I don't have a whole lot to report back to you. The company is still in receivership with PwC as the Receiver Manager. We expect to publish a report to the public within the next two weeks which will provide more information on the current status, and this will be your best source of information. At a high level, the shareholders are the last to be paid out in a receivership, and at this point it does not appear likely that sufficient funds will be realised from the sale of assets to pay out Shareholders after the other creditors. I've attached below a link to the FAQ section of our website, as well as the link to where our public report will be published within the next few weeks. https://www.pwc.com/ca/en/services/insolvency-assignments/stp.html https://www.pwc.com/ca/en/services/insolvency-assignments/receivership-faqs.html Regards, Liam
Comment by
monzie on Nov 18, 2015 9:28am
Did he happen to say anything about the debentures?
Comment by
John104 on Nov 18, 2015 10:01pm
nothing said re:debs, but shareholders last on long list . But only small pile of money :(
Comment by
bambus on Nov 19, 2015 5:22pm
they should get what they can and then pay out equal percentage to everyone...I think all we need to do is pray, and everything is gonna be just fine.... :(
Comment by
Pandora on Nov 19, 2015 7:01pm
Everything will be fine if your expectations have been lowered to zero return and a capital loss available -- assuming you don't have it in a registered account.