GREY:LSTMF - Post by User
Comment by
oilman53on Aug 28, 2016 11:08am
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Post# 25184530
RE:RE:RE:RE:RE:RE:Press Release
RE:RE:RE:RE:RE:RE:Press ReleaseYou may be on to something there.. There is no mention whatsoever to sell the assets to the highest bidder, or even looking for competing bids in the case that the deal falls apart..
and seek an initial order under the CCAA for the purposes of implementing a sale transaction under the CCAA (a "CCAA Sale Transaction") by way of a credit bid by the Secured Noteholders or other form of transaction within the CCAA proceedings acceptable to both the Company and the Ad Hoc Committee,
Either way the secured bondholders get the Company and the managenent team seems to keep their jobs and get a payout from the "change of control".