RE: RE: RE: RE: Q1 - Security values "So how do you suppose the restructure will get done if all equity holdings are "worthless"."
References to the equity being worthless is referring to the present equity with the lien against it.
"Outside of bankrupcty court and a long legal battle that could see bondholders get nothing if they force it that way.If they want a deal, they have to offer something that will get equity holders to agree."?
No, all YLO has to do is purposely miss one debt payment on any of the debt instruments and that will automatically qualify you for CCAA. Equity holders have no leverage. If they make an offer, it will be a small on and only for the sake of convenience. If you put up a fight then there won't be any fight. We have the law on our side, all you have is the ability to stall it if it is outside of CCAA, and as I said, if you force the issue then it won't be.