RE: RE: RE: RE: RE: RE: Q1 - Security values "I guarantee if they purposely miss one debt payment they will be sued and charged. Right now as it stands they have the means to meet current upcoming debt payments-"
Sorry Monzie, in my hypothetical I jumped from A to C just to keep it short. The A-B-C would be "accidentally" break a covenant which allows the debt to be called, which in turn can not be covered, which in turn triggers CCAA. Don't forget, they have 'secret' covenants (Did you forget about those?) that may already be breached so no further screw ups on managements part would be needed. If they had one for positive net Equity then that definitely already is breached and what were the Revenue, EBITDA and cashflow minimums? Who knows?
They may be just be holding off calling the loan it to see if this can be done outside the courts, and if not then the first domino falls....again who knows?