Twin Butte Energy Ltd TBTEF

RE:RE:RE:I will never understand why they didn't file for CCAA

[Oldfart74]

pablo87 wrote: The syndicate themselves provided the Receiver with "DIP" financing of sorts did they not?  And would it matter if it was from someone else? It is after all, good money after bad.

By the way that narrative that CCAA is complex and should be avoided at all costs I've heard more than once.   When do you suppose people learn it and from whom? I've never read any analysis on it anywhere. Sounds like urban legend to me.

Like I said, I don't get it.

The banking syndicate provided loans to fund the Receivership and pay some urgent payables so the company could continue to operate while the sale took place.  CCAA works if you have a reorganization plan and a lender who is onside.  The courts may grant a 30 day period to try to get a plan that has a chance of success.  However, if your secured lender objects, it is very hard to get a judge to agree because the DIP loan gets ahead of the banks.