GREY:LSTMF - Post by User
Comment by
Oldfart74on May 03, 2018 8:38pm
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Post# 27980235
RE:The Goodness of Oldfart.
RE:The Goodness of Oldfart.Pancho2 wrote: Oldfart is still here trying to advice Shareholders to sell their shares for nothing
before they lose everything...so helpful.
He wrote
" Every asset owned by the company was sold to the creditors in exchange for the debt."
So the Secured Creditors got the Assets, then what happened to the Unsecured Creditors, theBanks and Sharehoders?
Will appreciate your valuable insight
I’ve never advised shareholders to sell their shares but have advised shareholders to claim a capital loss for tax purposes because the shares are worthless. You don’t have to sell your shares - just notify CRA that you want to claim the loss. Losses can be deducted from capital gains - a situation which is unlikely for Pancho.