Concordia Healthcare Corp. T.CXR.R

Chapter 11 is terrible but, there are happy stories too

[greatplay]

American Airline is one, 10-20cents turned to $11

It can happen too, because we have buyers lined, except they don't want to pay to bond holders...

https://www.wsj.com/articles/SB10001424052702304579404579236260563432596

[greatplay]

Also wanted to say that we are really far away from chapter 11, with new cash, etc. I read up today on Chapter 11 or 7 (total liquidations) and I found out that if company intentionally files for chapter 11 without a cause, management maybe held in-contempt for breaking law and it can even face illegal charges... Since company has 500 MLN + 60MLN (line of credit that can be used) + continuous cash

[MustardTiger88]

Where do you get $500 million in cash?  It's my understanding that it's more like $150 million.

[greatplay]

162MLN cash + 350 MLN from first lien papers + 60 mln (from 100 mln, not to break caveats) + cashflow (last quarter it was +17MLN) 350MLN you can see in Quarter release, they mention it, as cash coming outside of quarter report date