GREY:TBTEF - Post by User
Post by
cigarbutt1on Jan 21, 2017 9:45pm
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Post# 25738070
CCAA vs BIA
CCAA vs BIAInteresting discussion about the possibility of CCAA.
It should be noted that, since the beginning of receivership and all through the auction period, no meaningful restructuring or recap proposal has been submitted.
Also, the winning bid (out of the final seven) will not likely be enough to provide funds to the last layer in the priority of claims, the shareholders.
In retrospect, these two facts strongly support the notion of BIA proceedings over CCAA.
If, for some reason, CCAA had been chosen, all stakeholders would now be facing a less promising future.