TSX:CUS.DB.D - Post by User
Post by
Khersonon Mar 12, 2016 9:37am
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Post# 24651277
CCAA Protection?
CCAA Protection?What investors now need to realize is that the clock is ticking down to the possible demise of Canexus, if they can not get the banks and Superior to agreee to relaxing their financial covenants. Dean Bacon explained it very clearly in the C.C. that within the next two weeks, they should know one way or the other.
What I find most telling at this moment is that Canexus has omitted their 2015 Annual Financials from their website. Anyone reading the Auditor's report will understand why!
I have been saying this for awhile now and I will say it again, I believe that Canexus will go bankrupt before any merger occurrs. If that scenario does come to pass, Superior saves over $6 million by not having to payout Change of Control bonuses to the management team at Canexus...
Kherson