Nemaska Lithium Inc NMKEF

did 2/3 of creditors approve the ccaa plan ?

[Tcheck]

Ultimately, the company files its Plan of Arrangement and
 forwards it to the creditors/shareholders.
 A meeting of the creditors (and shareholders, if applicable)
 is called to vote on the Plan.
 For the Plan to be binding on each class of creditors,
 a majority of the proven creditors in that class, by number,
 together with 2/3 of the proven creditors in that class,
 by dollar value, must approve of the Plan presented to them.
 If a class of creditors approves the Plan,
 it is binding on all creditors within the class,
 subject to the Court's approval of the Plan.
 If all of the classes of creditors (and shareholders, if applicable) approve the Plan,
 the Court must then approve the Plan as a final step.
 Upon Court approval, the company continues forward
 as outlined under the Plan until it has satisfied the requirements under the Plan.

any body knows who of the creditors approved the plan
lets guess
orion + orion + orion+

[TicTacTo]

2/3 of secured creditors = Orion, plan of arrangement validation is detail of the story

[Tcheck]

so tic tac to with the approval of orion you can approve the ccaa plan and wipe out all other creditors and claims . so how much $ did the company really  need to find to get out of bankruptcy and satisfy the creditors and off takers   . the money owed to orion only ? how much ?

[dalesio_98]

The Plan of compromise or arrangement will be presented to the Residual Nemaska Lithium entity.

[Calgary_AB]

Tcheck, There is more than just the shareholders. I said this before: NMX sold it's future profits in streaming and bad delas. Those deals need to go away before any investor would be interested to invest any money into it... Any investor with big money looking for LI, they don't want to put money in, build the mine and the plant just so they can deliver GB's stupid promisses and

[TicTacTo]

Orion will get 100% of 134M as will be paid by New Nemaska (as Matthey 12M) to purchase asset, not concerned by plan of arrangement. Plan of arrangement will concern remaining creditors paid with the remaining cash in bank. Smaller creditors claims around 40M, will got maybe 50 cents on the dollars, for local company better 50-60 cents on the dollar than nothing.