RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: No 30 BlueCollar51 - Thanks for sharing your thoughts.
Just wanted to add one thing and this goes back to my early research on CBCA. I discovered the same thing as you did - fairness opinions are optional. That said, it was suggested that fairness opinions from reputable sources would, to a large degree, exempt the BOD from a detailed assault on justification of fairness.
I don't have my reference handy for this but I believe it to be correct.
As to the argument about whether all stakeholders were treated fairly I like to understand what the criteria is used for that analysis. If a stakeholder is better off with CBCA than CCAA is that enough? In this particular case it looks like the banks would do better with CCAA and Equity holders worse. With CBCA, the opposite seems to be true.