Twin Butte Energy Ltd TBTEF

RE:RE:RE:RE:RE:RE:Remember - Common Shares vs Debenture

[PetroExplorer]

BASTILLEDAY4U wrote:

PetroExplorer wrote: Here's my take on this topic: the only way to get more (than zero) value for the shares, is to get the company into CCAA, and continue the process, as the Ad Hoc group had requested.

I finally see your point which makes a lot of sense. However, we didn't have an old farmer wanting to save the farm, we had something else. Is it possible for the Ad Hock group, to be given the job of managing this mess under CCAA if they do indeed have a plan and possible financial backing to pay off the banks?

I speculate that FTI Consulting could be appointed a Monitor in CCAA, then some sort of Twin Butte board would have to be constituted.  No reason that certain Ad Hoc members, couldn't participate in a new Twin Butte board, as they have done a good job in the absence of the old board.  They just couldn't vote on any matters related to a plan of arrangement solution, on the Debentures.

This would all first require the judge to give a break on the receivership.