RE:RE:RE:News: Court Order is PublishedOldfart74 wrote: pablo87 wrote: Can someone pls explain 2 things to me: why did National Bank's lawyers speak? they've been paid, they should have no standing unless...2nd, why would this hearing impact the supply of knee pads at local CT's?
I presume the National Bank lawyers were there to help the judge make his decision. I'm certain their input was appreciated. I note that despite the assurances of Bojangle some months ago that he was meeting with a law firm to represent the shareholders, no shareholder lawyer spoke.
Incorrect: the National Bank lawyer was certainly not there to help the judge make his decision. After screwing the Shareholders and Debenture Holders over, by not trying to work things out in CCAA, they were pleased that they got their loan paid back in full. Thus he stated he had no opinion regarding the "pari passu" argument, and that was of no concern to them.
He was only there because one of the Debenture Holders had emailed him, and was claiming that National Bank had made improper statements, in their court affidavits. The National Bank lawyer didn't like to spend time arguing with the guy, who had suggested that he would bring things up in Court.
National Bank lawyer reminded people that if they have to spend legal time defending themselves, they'll seek to have their expenses paid from the Twin Butte estate, based on some section in the Bankruptcy law, that says they can't be taken to Court, affter the receivership. It is costing them time, to read emails.
The Judge asked if that person or a legal representative was in attendance, but nobody fessed up to being a disgruntled Debenture Holder, so they continued on with the rest of the hearing.
Things did work out quite well for National Bank, as this was one of the only times they actually get paid in full, out of the many forced receiverships they forced around Calgary. I just wish the Canadian Government would nationalize National Bank, and clean house, to get them working for the betterment of the economy, instead of causing all the investors numerous losses.