GREY:SBIYF - Post by User
Comment by
CurlyMickon Apr 05, 2013 3:07pm
230 Views
Post# 21217569
Question to Receiver for SBS Inc.
Question to Receiver for SBS Inc. I should have known the answer yesterday. Retail investors have no protection...again.
Now we'll just have to wait to see if ASC puts the final death kick to us.
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Under the Bankruptcy and Insolvency Act ("BIA"), a Receiver/Trustee is required to inform creditors (as defined by the BIA) of the insolvency proceedings. Generally speaking, shareholders have an equity position in the company and are not creditors. As a result, under the legislation, a Receiver/Trustee is not obligated to inform shareholders of any proceedings.
Yours truly,
Katherine Bujold, CIRP, Trustee
VICE-PRESIDENT
DIRECT 403.537.7622
PH. 403.538.3187
FAX 403.537.8437
CELL 403.975.8416
Suite 1500, 640 - 5 Avenue SW
Calgary, AB T2P 3G4
katherine.bujold@mnp.ca
mnpdebt.ca |  |