They weren't in bankruptcy, they were under the Companies’ Creditors Arrangement Act, they needed more financing which could have been easily done via more shares offering, sure it would have dilluted the stock price, but retail investors would have kept their shares, what happened was a planned hold-up by the
Quebec finance minister and his friends from Pallinghurst to take the company private for pennies on the dollar, it was a total ripoff of the retail investors and a perfect example of a legal scam, there's a class action law suit because of that
nemaskaclassaction.ca/... Moral of the story, never invest in corrupt Quebec
They weren't in bankruptcy, they were under the Companies’ Creditors Arrangement Act, they needed more financing which could have been easily done via more shares offering, sure it would have dilluted the stock price, but retail investors would have kept their shares, what happened was a planned hold-up by the Quebec finance minister and his friends from Pallinghurst to take the company private for pennies on the dollar, it was a total ripoff of the retail investors and a perfect example of a legal scam, there's a class action law suit because of that
nemaskaclassaction.ca/... Moral of the story, never invest in corrupt Quebec