OTCPK:PGMFF - Post by User
Comment by
Sherry35on Feb 23, 2023 4:06pm
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Post# 35301857
RE:RE:RE:RE:RE:More pullbacks
RE:RE:RE:RE:RE:More pullbacksRockormen. There is no "some shady way to get out from this mess". The Federal Bankrupytcy and Insolvency Act defines who gets paid first, second and third. The only shady deal is selling the assets to the second highest bidder that happens to be owned by Sprott and Anglo.
The Sprott Lending will be reimbursed first for floating the CCAA and C&M costs. The secured creditor (Sprott Lending) gets paid next. Then the remaining creditors on the court recognized list. If there is anything left over, possiblely the share holders. The caveat being that the court monitor would have to seek court approval for share holder distribution. These are sociopathic lawyers looking out for the best interests of the share holders. Is there mention of distribution of asset sales proceeds to comm0on share holders in the CCA documents? Post the proof.