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Cline Mining Corporation T.CMK



TSX:CMK - Post by User

Comment by longonsinoon Dec 20, 2012 4:12pm
168 Views
Post# 20757663

RE: RE: keep pressing the management

RE: RE: keep pressing the management

Shane, I used to think it was a good thing, until I found out that CCAA gives all the power and rights to the bondholders. The problem is once your're in CCAA, you can't get out without an agreeement with the bondholders, and they will hold on to every penny. I've seen companies where the old shareholders own either nothing (like at TRE) or 0.01% total of the new company, while the bondholders become owners of the 99.99% of the company.

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