FormerXBC Inc XEBEQ

To reiterate CCAA Monitor timeline

[dalesio_98]

I. In accordance with the Bidding Procedures, the Foreign Representative anticipates that Successful Bid(s) will be selected by no later than January 13, 2023, at 5:00 p.m. (prevailing Eastern time), and the parties will then have until January 27, 2023, to complete definitive sale documentation.

J. Following the selection of a Successful Bid(s), during the week of January 30, 2023, the Foreign Representative anticipates the Debtor will seek an order from the Canadian Court approving the Successful Bid(s) and authorizing the Debtors to consummate the transactions therein, whereby parties wishing to oppose the entry of an order approving the sale(s) of the Debtors’ Assets (each, a “CCAA Sale Order”) will have the opportunity to object and be heard.

K. The Bidding Procedures set February 7, 2023, as the “Outside Date” by which a transaction must close.

https://tinyurl.com/2p8ax2d9

[ZouZS3]

Why is the timeline so important? There is no unknown outcome. 

[dalesio_98]

Did you conduct your DD?

[ZouZS3]

Yes RCG USA is buying ALL their assets in the USA that means all the service companies and all their fixed assets based in the USA ..did you ?

[dalesio_98]

So apparently you are in the know about RCG or blowing smoke. The only way for RCG to be purchased is by way bid submission to the Deloitte Monitor, National Bank Financial et al. We'll see what the Monitor reports shortly. CCAA and chapter 15 - cross border file is being handled by Deloitte Monitor in Montreal.

[dalesio_98]

I assumed RCG was a division of Xebec, I'll verify as my response may have been hasty.