RE:RE:RE:RE:RE:RE:Remember - Common Shares vs Debenturebikerack wrote:
'' The FTI Consulting group must be ecstatic that they actually have a succesful auction, as compared to theiir other receiverships, like Hyperion, Daylight, that went on and on, with no buyers and pathetic assets. ''
I'm curious Petro-with reference to your above noted statement.
To satisfy my own idle curiosity and edification, would you mind offering up the dates when FTI was appointed Receiver in both of those situations.
Sorry about confusing the facts: I mixed up a few different companies, and different receivers too. Plus it wasn't Daylight, but Spyglass.
National Bank forced several oil companies into receivership, over the last couple of years:
1. Palliser Oil and Gas: trustee was FTI Consulting. Receivership started on February 15, 2015, and Sale Approval was July 11, 2016
2. Spyglass Resources: trustee was Ernst and Young. Receivership started on November 26, 2015, and PSA approved on May 16, 2016, to Sinopeak. Completion of Claims Process was January 5th, 2017. [Note: unsecured creditors are going to have to wait this long, to get actualy payment?? Might as well keep things operating in receivership]
3. Hyperion Exploration: trustee was Ernst and Young. Receivership started on November 19, 2015, Sale approvals in April 19, 2016, and June 15, 2016.
So I was incorrect to state that FTI Consulting was ecstatic to get a fast deal on Twin Butte, but National Bank was very ecstatic, to get full payment of what was owed to them, as they didn't accomplish that in these three other receiverships.
(Always good to fact-check)