GREY:TBTEF - Post by User
Post by
PetroExploreron Jul 17, 2016 8:43pm
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Post# 25060460
Need to research and review this old debenture deal outcome
Need to research and review this old debenture deal outcomehttps://www.theglobeandmail.com/globe-investor/creditors-take-yellow-media-to-court/article4464168/
Just change some of the names and the amounts, and you get the TBE situation:
"The convertible debenture owners, who collectively hold $200-million worth of securities, have a slightly different complaint: they argue that the current deal would give them even less than those who own preferred and common shares, even though both classes of shares rank lower in the firm’s hierarchy of debt and equity.
At the moment, it is unclear how receptive the court will be to both groups’ complaints because their legal rights are murky. The debt restructuring has already been deemed to be fair by financial advisers BMO Nesbitt Burns and Canaccord Genuity."