GREY:NMKEF - Post by User
Post by
ewaltz22on Dec 23, 2019 2:06pm
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Post# 30484731
they are not bankrupt...
they are not bankrupt...they are under protection as per their tweet below:
Bonjour, Une socit qui demande la protection de la LACC n’est pas considre en faillite. En bref, la suspension des procdures en vertu de la LACC permet une socit insolvable de prserver le statu quo afin de restructurer ses oprations et de rengocier sa dette.
Hello, A company seeking CCAA protection is not considered bankrupt. In short, the stay of proceedings under the CCAA allows an insolvent company to preserve the status quo in order to restructure its operations and renegotiate its debt.
Not the greatest of news but perhaps what is needed to start off its new operations
Hello, A company seeking CCAA protection is not considered bankrupt. In short, the stay of proceedings under the CCAA allows an insolvent company to preserve the status quo in order to restructure its operations and re-enter its debt.