RE:RE:RE:RE:RE:RE:RE:Billionaire auto makers say-pity poor usIt does't matter what the definition of bankrupcy is, fact is fact, investors lost all their money.
tiger
dalesio_98 wrote: tiger2201 wrote: I invested in Canada Lithium & lost all my money;
I invested in Nemaska Lithium, luckly I was out of my position when it bankrupted;
CRE is my 3rd pick of hard rock lithium miners, and only started from last year, and my 2nd larget position.
I can wait, just my patience becomes thin!, LOL.
I lived in QC for 3 years about 30 years ago, as you said it's the worst place in Canada!
tiger
tinker901 wrote: You are absolutly right Tiger and Quebec has to be the worst in all provinces.
Media, politicians, shareholders, etc. wrongly refer to Nemaska Lithium as bankrupt, bankrupted or bankruptcy which is Totally incorrect. Nemaska Lithium filed a NOI under the BIA which was then moved to the CCAA creditor protection process. They did not file for bankruptcy, be declared bankrupt nor forced into bankruptcy. Nemaska had over $50 million in the bank, not a candidate for BIA or CCAA. I was twice a bankruptcy inspector representing creditors (shareholders - also stakeholders). The Nemaska Lithium saga is a questionable creditor protection file which resulted in a questionable privatization to the detriment of 25,000 shareholders and their families, the majority from Quebec, they supported the company over 10 years to the tune of $400-450 million. These shareholders and creditors are also tax payers. Quebec's government and IQ was involved in this questionable saga. Tax payer funds were utilized to acquire Nemaska and 50% of the company was gifted to the IQ partner Pallinghurst a foreign tax haven. ----- NOTE: I wrote questionable, you can understand there are far more appropriate words I could have utilized. ----- I sincerely hope the class action I am working on for Nemaska shareholders is accepted by the specialized law firm and motion submitted to the Superior Court in the near future.