Invictus MD Strategies Corp IVITF

Invictus update. Court Decision Monday

[Yowza123]

Status Update as at February 20, 2020

A Court hearing is scheduled for Monday, February 24, 2020.  At the hearing, the Invictus Group will be seeking Court approval on the following matters:

1. Extension of the initial stay of proceedings to May 29, 2020
2. Approval of the Interim Lending Facility
3. Approval of the Sales, Investment and Solicitation Process (“SISP”)
4. Engagement of a Chief Restructuring Officer (“CRO”)
5. Approval of the Key Employee Retention Plan (“KERP”)

A summary of the hearing and any orders made by the Court will be posted to this website shortly after the hearing.  

https://www.pwc.com/ca/invictus

[DanielDarden123]

No suspense here as PWC is recommending that all are accepted by the Court. The suspense lies in: 1) can they show positive cash flow within 3 months as ~1\3 of the ~$3M is reserved for PWC, lawyers,CRO, etc.; 2) can they keep unpaid employees and services (100 creditors=$21M); 3) will the creditors accept a Plan of Arrangement; 4) how do these assets compare to all the others in similar straits

[Yowza123]

One of the approvals sought by Invictus at the Monday court hearing is the 'SISP" Sales, Investment and Solicitation Process. If this is approved, Invictus could be open for bids to be partly or fully sold to the highest bidder. If a public company completely takes over Invictus it could end up with a new management, complete overhaul, new ticker etc. The whole bidding process is already