RE:RE:RE:RE:Process Should Have been Changed from the Start
bojangle3 wrote: Very interesting info Petro. Looks like you are onto something here. Hope somebody will follow up on these findings and possibly get us back into CCAA. Petro you seem like a man with a lot of investigative ability to persue this. I am certain that the share holders and deb holders would appreciate anything you can do to help our cause. I know I would back you 100%...
Bojangle, right now, the only hope would be the Ad Hoc group, showing up at court with their lawyer, to contest the validity of the process, where they wanted to discuss terms with other possible purchasers, and the receiver refused. The receiver claimed they would get an unfair advantage, if they knew who else had bid on the company. So basically you have to have alot of money, to try and pursue a bid offer, and if you don't, you are excluded from the process. And sealing details of previous bids, would make it beyond the capacity of a small group.
I still think there is a possible case here, for them to argue that TBE had nobody to contest the receivership, and alternatively file for CCAA, so this process was fraught with irregularities. Could the Ad Hoc Debenture Holders, be named the de-facto board of TBE? Perhaps if there were some large shareholders that had communication with the Ad Hoc group, there may still be a last minute surprise, where they mount a court challenge.
Don't forget that courts usually want you to submit your affidavit, a few days before the trial. They make this difficult, to avoid having someone contest a matter, who isn't already in the loop. So a defence filing, would have to be submitted a few days prior, not just Monday morning. We'll see if someone has prepared a courtroom surprise, or not.