Toubani Resources Ltd T.TRE

Creditors are not just bondholders

[strelioff]

Bondholders and bidders - If they had had a sale you would be partly correct but they are now mixed in with all creditors.  Nothing was sold so Contrarian Capital Management email as to who will fight for what assets is rather telling.

They will restructure which means there will be more than just bondholders there will be secured and unsecured holders and of course a few crazies out there without a promissary note and  mental illness that will also need to be weeded.

why are we talking about?  because international insolvency is not as black and white as many of you believe

My money is on insiders getting assets not jail time

Creditors vote will be based on insider power and influence

I expect they continue to push secured outside creditors below insiders including shareholders and company subsidiaries, and coerces bondholders into accepting the deal by depriving them of any recovery if they vote against it.