TSXV:LRT.UN - Post by User
Comment by
merriamon Feb 11, 2022 3:36pm
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Post# 34421654
RE:RE:When the lenders come knocking...
RE:RE:When the lenders come knocking...What can we expect for an offer? A cynic might say the least management thinks we will accept (like a wheelbarrow full of wallpaper).
I believe that our best chances are likely to come if we delay the day of reckoning as long as possible (to allow more time for recovery in Fort McMurray). In that case, I could see 50 cents on the dollar or better, if all the stars align.
The worst case scenerio might look like accepting the present offer of units for secured debt (before the CCAA process even starts) and then seeing a subsequent Plan of Arrangement with the remaining debtholders that has the existing units (including our newly issued ones) eliminated. That could see us left with nothiing. I think it is a real possibility if we are not careful.