EXPM:EGRGF - Post by User
Post by
dburn14on May 29, 2020 11:57pm
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Post# 31091071
What am I missing here?
What am I missing here?Can someone please fill me in as to what I'm missing here. Based on this report from when FTI received the company https://cfcanada.fticonsulting.com/EagleEnergy/docs/Eagle%20Energy%20-%20Notice%20to%20Creditors.pdf
it says that the total assets were $137.564 million, and liabilities were $41.277 million. FIrst of all, with the assets far outweighing the liabilities, why is this company in bankruptcy? Secondly, how could the company be sold to White Oak for less then the $40 million they are owed...whereas they then gain $137.564 million in assets, and somehow the shareholders are left with nothing? Their debts are more than covered by the asset value? Shouldn't we be suing? Something doesn't add up.