GREY:TBTEF - Post by User
Comment by
Oldfart74on Jan 19, 2017 8:53pm
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Post# 25731705
RE:I will never understand why they didn't file for CCAA
RE:I will never understand why they didn't file for CCAApablo87 wrote: I think somebody could write a book on this.
You do not understand the complexities of filing for CCAA. It is doubtful it would have been approved. They would have needed DIP financing - banks would have objected. Much different from LTS situation - here we had major debt to banks who have much more clout that secured note holders. Don't forget that court had details of all the prior bids. For the debenture holders, this was a good outcome.