OTCPK:PGMFF - Post by User
Comment by
Sherry35on Mar 19, 2023 11:02am
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Post# 35347493
RE:They most likely
RE:They most likelyscuba - I posted my distribution payout prediction last week. The secured creditor will get 70/80 cents on the dollar and the unsecured creditors will get 30/20 cents on the dollar. The reason is the unsecured creditors are owed $30M CDA and can hire one lawfirm (if isn't already involved given the lean service list vs numer of unsecured credtors) to file a "right of appeal" in two Appeals Courts dragging this on 6 more months easily. And, who's funding the CCAA fees ... drum roll ... secured creditor ... mmmmm ... Sprot Lening II. I don't think Sprott Lending II will continue to fund the services fees from two Appeals Courts (Prov, Federal) becuase everyone on the service list will want to be paid.
SO, everyone will NOT be made whole. Secured, unsecured and shareholders will be writing off your losses. The assets are being sold and distribution of proceeds is to the REGISTERED creditors.Not on the list of creditors, you get zero. The conservative move is to walk your shares across the exchange floor to lock in your 2023 CNIL. Be warned the judge could freeze trading of PGM just like NT stock.
PeLiCAN (not the wonderful evill one) - This is the first time you've agressively engaged other posters with @#$%. Got caught with some .015 cent shares? Inquiring minds want to know ;)