GREY:FFLWF - Post by User
Comment by
1sergedompierreon Jun 12, 2023 2:17pm
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Post# 35491931
RE:We the shareholders are done
RE:We the shareholders are doneYou may be right but the stock has not been delisted yet and even if it happen it does not mean the company is in bankrupt and if not it can be list again as before .
What i think is happening is this : CT SAID OK looking at the actual financial statement we are not interesting in buying the extra 15 % and keep financing that company unless some part of that statement can be improuve .Mainly the several long leases made before Trudel was there .These commercial leases are either to big -more square foots then need -or worse leases from close stores . Also a few things still related with Pineapple acquisition -employes ,local etc..
The CCA can stay in place until September 15 and a furst report shoul be produce around June 15 th .
All those negociations with those financial parts of the situation are handle be the lawyers of CT . Will they be successufull enough for CT ? for them to become the majority holder of FAF ? we dont know yet but will find out soon .
Remember CT already own all the assets of FAF in guarante of their loan anf financing and have reinforce their situation on those right from day one -June 6 -of the CCAA .
Bottom line they could already have put FAF in bankrupcy on June 6 th .The fact that before doing that they are taking the time to see if problems with the leases and Pineapple can be resolve to their satisfaction before pulling the plug on FAF .
So there is still hope we can save our investment there and remember something : face to a bankrupcy where those leases owners risk of getting zero money will they negociate something better the zero ?
Hope yes there is some hope for those reasons . June 15 th should bring us more on all this .