Post by
HRc60to65 on May 05, 2015 4:24pm
The Sale of Substantially All Assets ...
What is not included in that sale ? The 155 M $ account recevables ?
Comment by
RustyNail on May 05, 2015 5:43pm
Since Armtec is under CCAA and Brookfield get the assets, I assume the receivables go to Brookfield. Anyone?
Comment by
2Greying on May 05, 2015 2:58pm
yes...also accounts payable. Still lots of questions to be answered...does this break all the union agreements, what assets are excluded, why hasn't the board resigned, acceptance of liabilities/warranties etc etc. Still think that noteholders, debenture holders may be able to force fair treatment with all unsecured creditors (i.e. trade creditors).
Comment by
duckdog68 on May 05, 2015 7:30pm
Not really anything unanswered. The Purchase Agreement is public record on Ernst and Young's page as CCAA Monitor. specifically see Tac C of:
https://documentcentre.eycan.com/eycm_library/Armtec/English/Motion%20Materials/MotionRecordreturnable11May15.pdf