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Yellow Media Inc T.YLO



TSX:YLO - Post by User

Yellow Media Inc
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Comment by bradford86on Jun 19, 2012 4:37pm
180 Views
Post# 20031633

RE: RE: RE: RE: RE: RE: RE: CCAA-Brad

RE: RE: RE: RE: RE: RE: RE: CCAA-Brad

I'm right here with you!

"I think they will try refinancing under CBCA"

Yellow Media Inc.YLO
MESSAGE POSTED by
valuinvestor1

just checked, there is no set % for quorum under CBCA (nor is there for % approval, but standard is 2/3rds) the level is set on a case by case basis, and for this situation, since all classes are widely held, they (court appointed director(s) will need to set it low to have any chance of resolution.

The difficulty in this situation is to make the bondholders happy without giving them control of the company, I believe they tried already a couple weeks ago and met an impasse. I think it's inevitable, but they have time to wait it out. There is no pending liquidity crisis here so unless YLO voluntarily goes CCAA (even then, it will be difficult to convince a judge that they qualify) I think they will try refinancing under CBCA

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Dealroom for high-potential pre-IPO opportunities