RE: RE: RE: An encouraging sign? Mr. Bond is right. Cline is insolvent BUT not bankrupt. There is a big difference. If they declared bankrupcy, even Marret may not get all their money. Even worse, Marret would lose control of the situation as all the powers will be vested in the appointed Trustee. In the last six months or so, Marret's has been the one holding the hammer ready to drop. Now, the tables could be turned in management's favour.
I'm sure everyone has done their risk/reward calculation by now. It may very well be that not declaring bankkrupcy may be in the best interest of all the stakeholders at this point in time. Delisting from the TSX would save them a huge amount of money. Slim down as much as possible and buy time. Then it's a race between Cline securing a sales contract in light of improving macro economic picture translating into higher metcoal demand/prices or increase in asset prices in favour of Marret wanting liquidation for the return of their money.
It's not over. GLTA