Nevada Copper Corp NEVDQ

Questions

[nofluff]

So ncu accepted swcm parent company, Kintars matching bid as acceptable. The u.s. and cad. Courts have to review and accept or reject. I imagine there might be some large objections. This could drag on a long time. 

So, we are not given details of what lenders are getting. I am guessing, all interest in arrears paid and loans stay in place. So creditors are then fine as kintera carries on with mine.

Will Pala get anything for there unsecured loans??   Shareholders would definitely get nothing.
So Pala and friends would be out about 500 plus million.

Why did Pala not simply go chpt 7. That would have given control to German bank. Not what u.s. would want. This kept control in north America. Kintera very u.s. friendly. Still waiting for court rulings.

Sounds like the proverbial gun to palas head. Still hope:))

Nf

[nofluff]

Funny how a mine can be valued at what friends r owed but Pala and other sh get no value. Not over until deal is done. Looking for announcements. Nf

[TomsStockHut]

The real question is about the value of the mine and about the "CIRCUMSTANCES" that hindered one of the three potential bidders to place an offer. We will never know... In the end, the public shareholders even paid for getting their asses kicked by Moelis. Didn't thought that this would happen in US, today. My final words for potata Joe: You don't need fertilizer if you would

[cnynman]

What does our resident legal expert Patch have to say about the legality of the bidding process and acceptance of the one and only bid?  Seems he's suddenly disappeared from this forum.

[TomsStockHut]

I was just reading Docket No 745 from Zul Jamal. It's getting more and more ridiculous. To put it simple: Moelis failed! No competition, no bid, so this is the best they could achieve "UNDER THESE CIRUMSTANCES". Wondering what happens, if time goes by and Kinterra sells this project for 2bn or even more? Have a nice time, rgds. Tom

[cnynman]

Nothing will happen. This is how (and why) bankruptcy proceedings are structured. The major creditors get some or total relief, and the failed business owners are debt free (what they wanted and needed) but have no value remaining.  In this case, the 'failed business owners' include NCI and stockholders. Once the deal is finalized, there is no reason why Kinterra can't sell the