2242749 Ont Ltd. AIIFF

Sales Process Agreement with Brookfield

[HRc60to65]

There is discrimination. Trade creditors are unsecured like the 8.875% senior notes due 2017 (the "Senior Notes") or its 6.50% convertible unsecured debenture. All unsecured creditors have to be treated the same way. The 8.875% senior notes due 2017 (the "Senior Notes") or its 6.50% convertible unsecured debenture have to be repaid in full.

[2Greying]

There will be lawsuits which may force the company into bankruptcy. Another possibility is to issue shares for the notes but you may have issues with trade creditors.

[HRc60to65]

ARF Properties is at 115 M$ Accounts receivable at 173 M$ by itself exceed the Brookfield debt at 160 M$. Trade creditors are at 82 M$ Notes and debentures 148 M$ and 38 M$ respectively. There is a deficeincy, but not enough to wipe out unsecured creditors (trade creditors, notes and debenture holder.

[2Greying]

We don't have the year end financials yet....lots may have changed!

[rad10]

HRc - where do you get the figures for the ARF real estate holdings?  

[HRc60to65]

properties and plants in the q3 financial results

[rad10]

True but if Armtec and BAM talk enough nonsense they can spook the market, drive down the price of the debentures and the senior notes and pick them up cheap for cancellation.  

[llennn]

Or they could call inventhelp 

[llennn]

In order to get the zero back to 8.875 and the other zero back to 6:50 or continue being a baked Alasken