CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

financial convenantb

[mo1975]

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

[Kherson]

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

[mo1975]

Kherson, with the NR from spb yesterday we get a little better understanding of what is going on ... I personnaly think that there is some  bad issues between certain officer of both companies... sure cus could still manage their company but not to issue long term compensations which would affect the buyer end result... now  do you know who normally gets those long term compensations???

[Kherson]

Mo, what I find odd is that Superior did not seem to have an issue with Canexus requesting the banks to loosen the financial covenants, but the $6.6 million in Change of Control payouts to management do! The $6.6 million in Change of Control payments was common knowledge from day one of the proposed merger agreement, yet we are only now being told by Superior that it was the stumbling block in

[mo1975]

kherson, seems it is dificult to get the details of the breaches......in the  nr of spb they talk about long term compensation issued without spb approval...... does this refer to pesonal compensation?? was there some compensation tied in with the lwould loosening of convenants???if you look at cus yearlys, they issued a whole lot of rsu as compared to 2014.... maybe they did that again in