TSXV:KUR.H - Post by User
Comment by
Crotchon Dec 12, 2008 5:51pm
264 Views
Post# 15643771
RE: RE: RE: RE: RE: Sales Arrangement Process Deta
RE: RE: RE: RE: RE: Sales Arrangement Process DetaI wouldn't know what "the process" is generally for - to be honest.
The only comparison I have, is to that of BCE's experience. Their deal with the OTPP was done through S192 of the CBCA, and as far as I know BCE was solvent (as is Look).
Again - it all comes down to the Court.
As I said, the BoD doesn't have the final say - no matter which way you look at it - they do not influence the Court.
The Court, as precedents suggest, WILL look out for the best interest of the shareholders - again, as evidenced by the decision in the BCE fiasco.
To suggest that the Court is merely there as a formality shows a lack of "trust" (for lack of a better word) - in our system. The Court DOES have a vested interest in the outcome of each decision it renders, and I would highly doubt that they would acquiesce to anything other than a "fair" shake for those with the most to lose.
I will certainly stand corrected if you can substantiate the "theory" that the Court is involved simply for judicial expedience...