Urthecast Corp LFDEF

Don't we get a voice?

[Bazvest]

I just wrote to one of the CCA administrators, inquiring into the procedures for the CCA for URTHECAST. In all the of monitor's reports there is practically no mention of what will happen to shareholder equity once the new company (BIDCO) Antarctica LCC is formed. Don't shareholders get to vote on this deal? It's also incredible that a former administrator (Scott Larson) was allowed to buy the SAR unit asset for pennies on the dollar under a new company name, is there no law against that? I'm probably ignorant on the matter but I can't imagine there is no lawsuit pending!

[OlYale]

Did you get a response from the CCA Admin?

[Bazvest]

Yes, here is the response: --------------------------------------   The asset sales within the CCAA were approved by way of court order.   Generally voting in insolvency proceedings is done by the creditors and not the shareholders.   As for the SAR sale, the purchasing entity was the successful bidder in a live auction providing for the greatest recovery on the