TSX:CUS.DB.D - Post by User
Comment by
Khersonon Jul 12, 2016 11:46pm
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Post# 25047072
RE:financial convenantb
RE:financial convenantbmo1975 wrote: I wonder if those financial convenants renegotiated by cus in order to meet their banker and pay their dividends... was officially authorized by spb.... when i asked spb when that happened why they did not advice us with a press released I was told that spb was not directly involved with that
and now that the deal is off.. that might have been the breech that cus does not want to discussed..
everything would have been fined but now different story ..you don t sell your assest and before the house is sold renegotiated loans give out structure and cash in order to stay financially liquid
Mo, I was inclined to believe that your's and my assessment on the breach being due to the loosening of the financial covenants was the real reason! But, your post on the SPB SH board clearly explaining that Rob from IR stated that the loosening of the Canexus financial covenants was a non-issue to Superior now makes even less sense in light of today's NR from Superior.
Are we now witnessing a snow job from both Canexus and Superior in the middle of a July heat wave? We all know that Canexus can not financially sustain a protracted legal battle with Superior, so if the two sides settle out of court before the Fixed Term Bank Loan and the tightening of the financial covenants become due on December 31, 2016, I would be inclined to believe that we are indeed witnessing a Snow Job by Canexus, Superior or both!
Personally, I believe that it is now time for the ASC to take a closer look at this mess!
Kherson