Concordia Healthcare Corp. T.CXR.R

Still no deal and the interest keeps racking up.............

[rad10]

As previously announced, the Company commenced proceedings under the Canada Business Corporations Act (the "CBCA") in an effort to realign its capital structure. The Company continues to advance ongoing discussions with its debtholders in this effort, and is focused on realigning its capital structure on a consensual basis. In connection with the Company's efforts to advance a potential recapitalization transaction, the Company has determined to defer the payment of the approximately $37.5 million of interest due today on its 9.5% senior unsecured notes. Such deferral of the interest payment does not result in an Event of Default until the expiry of the 30-day grace period, and any default or Event of Default in respect of the non-payment of the foregoing interest amount is subject to the stay of proceedings granted in the Company's CBCA proceedings. It is expected that the foregoing interest payment will be addressed as part of any recapitalization transaction that may be completed by the Company.

[biggerr]

it's the last time I buy some risky stock like CXR on a big rally day when there are no news, I burned myself a few times like that already, but I still think it will work out

[Eaglequeens]

I agree with you !!! i really donot believe that Canadian bio company go nowhere. Give more time, we will see CXR so different next Chrismas day!!!  I will bet it.

[trivela]

The ongoing reorganization, how long can it last? Is there a time-limit or can it drag on for many more months?

[Northerencents]

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[rad10]

problem is they can never be on the same page - there is a direct conflict between the three major parties.   Concordia made the call by withholding the interest payment to bring the unsecured to the table.   Equity is essentially worthless, unsecured may recover a few cents on the dollar - secured will end up owning this company................ Flipping the equity may prove

[Northerencents]

This post has been removed in accordance with Community Policy

[rad10]

look at the situation from the perspective of the unsecured creditors - they have been stiffed out of their interest payments. Why would they allow a restructuring that left a nickel with the common share holders? In turn - why would the senior secured holders take any haircut whatsoever in a restructuring? when restructuring 2 billion of debt - something has to give - and it will be the common

[trivela]

You are right, of course, but... from the point of view of shareholders who paid $50 per share or so, does that not make them also "creditors"?

[rad10]

The guys and gals that bought their shares off Thompson and Borkowski who were selling at the time............. Life is unfair, I lost my fair share too! What is galling is nobody will be brought to task for any of this. Karma usually has a gravitational effect on these individuals............

[Northerencents]

This post has been removed in accordance with Community Policy