Post by
Pancho2 on May 01, 2018 6:41pm
The Goodness of Oldfart.
Oldfart is still here trying to advice Shareholders to sell their shares for nothing
before they lose everything...so helpful.
He wrote
" Every asset owned by the company was sold to the creditors in exchange for the debt."
So the Secured Creditors got the Assets, then what happened to the Unsecured Creditors, theBanks and Sharehoders?
Will appreciate your valuable insight
Comment by
Oldfart74 on May 03, 2018 8:38pm
I’ve never advised shareholders to sell their shares but have advised shareholders to claim a capital loss for tax purposes because the shares are worthless. You don’t have to sell your shares - just notify CRA that you want to claim the loss. Losses can be deducted from capital gains - a situation which is unlikely for Pancho.