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Bullboard - Stock Discussion Forum Lightstream Resources Ltd. LSTMF

Energy Oil & Gas E&P
"Lightstream Resources Ltd is engaged in the exploration and development of oil and natural gas in Western Canada. Its operating areas include Southeastern Saskatchewan, Central Alberta, and North-Central Alberta."

Bullboard (GREY:LSTMF)

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Comment by reefsandals4evaon Jan 23, 2017 2:31pm

RE:RE:RE:September 26 initial order

My point still stands. You don't take a gamble in a situation like this, this isn't a casino. They didn't go lets go for all or nothing, they just wanted more than the shareholders. Really ...more  
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Discussion
Comment by Oldfart74on Jan 23, 2017 2:22pm

RE:RE:September 26 initial order

The unsecured note holders were not banks but hedge funds - Mudrick Capital and Front Four Capital.  The banks got fully paid - the dispute was between the secured note holders and unsecured note ...more  
111
Discussion
Comment by reefsandals4evaon Jan 23, 2017 1:57pm

RE:September 26 initial order

There is no rolling the dice. Banks do not take risks. The unsecured would not have gambled their chance at getting paid for their share in the company, the idea of that happening is nonsense.
97
Discussion
Comment by reefsandals4evaon Jan 23, 2017 1:53pm

RE:September 26 initial order

The unsecured are no long part of the company. They are dissenting shareholders. Their vote would not stop the restructuring of the company because they are a minority shareholder. The do not have to ...more  
138
Discussion
Comment by afficheholderonon Jan 23, 2017 1:32pm

RE:September 26 initial order

And what is the conclusion for all the shareholders?
91
Discussion
Post by Oldfart74on Jan 23, 2017 1:29pm

September 26 initial order

The company filed for CCAA on Sep 26.  The court approved a SISP process to sell the assets.  At the end of the day the secured creditors were the highest bid and the sale of the assets to ...more  
158
Discussion
Comment by reefsandals4evaon Jan 23, 2017 11:53am

RE:need for a legal interpretation

and an accounting interpretation.
81
Discussion
Post by wizthewizon Jan 23, 2017 11:49am

need for a legal interpretation

Thank you all for wading in. Unfortunatley, your comments only reinforce the need for a legal interpretation.
98
Discussion
Post by lightscamon Jan 23, 2017 11:00am

Cool it was pre-planned good work wright

https://www.mudrickcapital.com/about So the creditors that sued lightstream are investment advisors that specialize in distressed credit. Does it make any sense the creditors that own lightsream now ...more  
142
Comment by reefsandals4evaon Jan 23, 2017 10:42am

RE:i think the oppression remdy was pre-planned

July 16 2016 news release even says what position John Wright would take in the new company.
86
Discussion
Post by lightscamon Jan 23, 2017 10:29am

i think the oppression remdy was pre-planned

https://www.secinfo.com/dsVQx.wh2j.d.htm It seems like mudrick capital management Lp is connected to a lot of bankruptcy proceedings. I think they pre-organizied oppression remedy with wright ...more  
118
Discussion
Post by lightscamon Jan 23, 2017 10:26am

Maybe someone shoudl investigate the companies

https://www.secinfo.com/dsVQx.wh2j.d.htm The owners of the new lightstream ridgeback were creditors that sued under oppression remedy and now own lightstream. Weird thing if you look up Mudrick ...more  
132
Comment by reefsandals4evaon Jan 23, 2017 10:21am

RE:RE:RE:RE:RE:RE:RE:RE:@wizthewiz go to Reports ,third monitor report pg10&11

What special meetings? there was no meeting. There was no vote.
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Discussion
Comment by reefsandals4evaon Jan 23, 2017 10:08am

RE:RE:RE:RE:RE:RE:RE:RE:@wizthewiz go to Reports ,third monitor report pg10&11

that is correct courts can act on their behalf but it's still a going concern. You NEED to read the third monitors report. It clearly says the unsecured are being paid, in my opinion. it says they ...more  
153
Discussion
Comment by BluSky23on Jan 23, 2017 9:58am

RE:RE:RE:RE:RE:RE:RE:@wizthewiz go to Reports ,third monitor report pg10&11

Sorry Reefs, but you keep going back to July. In the purchase agreement, one condition was that the support agreement was maintained and in full effect. Meaning unsecured and SHs are cut out due to ...more  
132
Discussion
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