Securities Law and more shadiness The lawyer (Basia Dzierzanowska) from McInnes Cooper is included in all the Court's Master Lists from July to November (still even 3 months after the stalking horse bidder was annouced) and she won the 2023 award for one of the best lawyers in Canada
Link here in her field of expertise (securities law). Here's a question, why would one of the best layers in securities law be on the master list, even after all this time post sale announcement?
Next question, In docket 457, a sale price of 100 million USD was set by the debtors as a target to beat in order for the KEIP employees to earn a bonus if they surpassed this amount. The baseline (minimum amount) was 60 million USD... This docket was issued 1 week before Kinterra Capital's "Southwest Critical Materials" shell company was set up in Delaware on August 2 (10 days before they were announced as the stalking horse bidder). I always wondered where this $100 million amount came from given the market cap closing at 28 million before halt... It appears the public portion of the sale price was mostly agreed upon prior. As stated earlier, Pala and Mercuria's sale was mostly conducted privately. Anyone who thinks Pala took a huge loss after investing over half a billion USD in Nevada Copper over 14 years probably also believes in Santa Clause, Tooth Fairy and Easter Bunny... You can track their buys on SEDI...
Makes me think the sale was already mostly established prior to C-11. Bankruptcy court was mostly leveraged to iron out all the legal stuff around debt, contracts etc...
But an important observation remains... why is one of Canada's best securities lawyers is still receiving court documents... Must be alot more going on that what public shareholders know...
From Basia Dzierzanowsk's department:
"We can assist you in securities and commercial disputes, including
shareholder disputes,
class actions, appraisal and share valuations, derivative actions, and claims involving oppression remedies. We can act in discipline cases involving alleged broker and dealer negligence and misconduct. We can also represent you in individual claims against stockbrokers, mutual fund dealers and representatives, and financial advisors."