RE: RE: RE: Really Interesting"Even if they enter CCAA they have to have the shares vote to change any terms."
No ,no, no and no. I have told you guys many time that shareholders do not hold any power under CBCA, CCAA or BIA. Any say or participation you may have is given to you. It is discretionary and does not empower you to reject anything. As far as pre-existing agreements go between you and the company, they can be terminated or modified without your approval once the company is under any of the Creditor Acts. This includes all contracts and agreements, excluding union labour.
Do not take my word for it...it is all in the following. It is a long read, but it can put to rest all this shareholder empowerment tripe that seems to linger on this board. If they decided that they need to modify or terminate any or all of the pre-existing agreements with the shareholders, then they can do it without your approval, whether you like it or not....and they can also enter the respective Creditor Act (Which enpowers them to do it), also without your approval.
I am not trying to fear monger...Your decisions are your decisions, but make those decisions based on the legal facts. If you do, then maybe the markets reaction and perceived risk/reward ratio won't seem nearly as retarded to you as this board makes it out to be.
https://www.fasken.com/files/Publication/b67d44b2-6625-4e55-a9b3-113ee303d883/Presentation/PublicationAttachment/ec8fe2c5-a502-4fe0-ae7f-060edbf461e1/Shareholders_and_corporate_insolvency.pdf