Bellatrix Exploration Ltd (Canada) BXEFF

Clown show at the PwC Canada Current Insolvency Website

[Kherson]

If anyone is paying attention, which it seems that no one is, PwC updated their Bellatrix file yesterday with the Court Orders actually from the Trident Exploration Corp. CCAA process. Philipp, you really need to get your team into shape!
As I had explained in an earlier post, Bellatrix did not meet the initial criteria to enter CCAA protection as they did not meet the requirements of the definition of "Debtor Company". After having now read the October 11th court orders concerning Trident Exploration, they did not either!
This does not pass the smell test folks!
Kherson

[miketrike]

They defaulted on the $3 million payment which means all their debt is now considered owing to creditors, which is over $350 million. They do meet CCAA requirements. There are serious consequences to defaulting on a loan. I think they could have made spending/financing adjustments  to prevent the loan default, but I believe the plan was to sell the company and this was part of the plan

[RichyRich$]

Mike... Thanks for that info. I think you have a point. They could have easily did a private placement to pay that $3 Million. But do you know who made the decision? Was it management? Because wouldn't their interest be to keep the company unsold so they keep their jobs? Because if bought out, often the new owners clean the house with management and executives. I wonder if it's the bank

[joenomoney2]

This post has been removed in accordance with Community Policy

[Kherson]

I see that PwC finally got the Court Orders for Trident Exploration straightened out. What is sad is that the Monitor is getting paid big money to do this job properly, yet as we can see, they are committing stupid mistakes.  When I see these types of mistakes occurring with PwC, one really has to ask who is in charge and where is the oversight. The overall CCAA process has become a sham

[joenomoney2]

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[joenomoney2]

This post has been removed in accordance with Community Policy

[joenomoney2]

This post has been removed in accordance with Community Policy

[mjhayman]

Will PWC only speak with creditors? I left a message yesterday on their Bellatrix number. Amazing the 15 million loan for the bk could have been used to pay off shareholders, makes me so mad! Should have had it publicly up for sale and went to chapter 7 giving people the heads up! Management just wanting to drag out their pay cheque's a little farther is all this is about!!! At the expense of

[makedonka]

People here need to know your history so they can judge for themselves if what you say has any credibility. by Mike Caswell St. Elias Mines Ltd. and its president, Lori McClenahan, have launched a defamation suit in the Supreme Court of British Columbia against a number of anonymous forum posters as well as dissident leaders Gilby and Darcy Hastman. The suit complains about