RE:RE:RE:RE:RE:No Merits in ClaimSGordon wrote: For the big trade after the halted it's a very good point.... I gonna try to got something from the lawyer!!
Thanks.
No. you guys are barking up the wrong tree.
Pacific had warned weeks BEFORE the halt & delisting that it couldn't meet the TSX listing requirements & was under TSX delisting review. They told shareholders and the investing public & people chose to ignore the warning. I recalled people were speculating or holding up false hope there could be another takeover for the Company. Lots of comments on Bullboard that something must be up with such high trading leading to the halt.
The joke is that you can sue anybody for anything and you can even indict a ham sandwich. But, you cannot sue another shareholder for "insider trading" as only the securities regulator (OSC)can do that. You all recalled the 2 largest shareholders who held 40% of the stock said they didn't care anymore & expected to eat most of the loss.
Btw. based on the limited trading in the $4 billion junk bonds market ($1.3 billion bank debts) which fell to 25 cents on the dollar, no big buyers bought up the Pacific bonds.
The CCAA legislation is clear and cogent - no recovery for common shareholders unless the creditors are paid in full.