best scenario only unsecured loan is 20 m debenture. GXI issuresd he debenture to buy OJ. After sale of OJ, gxi has 15 m cash left. It is quite possible and fair debenture holders get this 15 m (75% 0f original )cash back. Just as i doubted they can get their money back 100 %.
CCAA is not proceedings of bankrupcy, debtor holders having priotity over shareholders in the distributionof the money as some people mistakenly believed. GXI is taken over by private companies.
if my assumption of 40 m takeover price is correct then 40 m / 134 m shares * 1.3 currecy exchange =0.39 MINUS SOME cost of sale. My prediction of 20 to 40 cents a a few months ago
are stilll holding. tomorrow we may see the result.