Concordia Healthcare Corp. T.CXR.R

Shorts Hard at Work

[Lumberfeverlong]

Into the wee hours of the morning.  Just becuase bondholders are pissed because bonds are trading at 35 cents on the dollar does not mean the company will file.  The CMA has not levied a fine.  This is allj ust speculation at this point and the shorts are having a field day on this.  $90M is the absolute maximum fine possible and there has been no statement by the CMA that it is levying a fine let alone the maximum possible fine.

[Shortingtozero2]

Well at least this sheds some light on why the insiders sold their stock and why the directors settled their restricted share units in CASH last week instead of taking shares in the company. And  wasn't it you who said a couple of weeks ago that there is no reason to hire restructuring counsel - and now we have a story that they hired PJT Partners...   seems like what the shorts say

[Lumberfeverlong]

First, I said nothing about the company hiring or not hiring any advisors. As far as PJT Partners is concerned, until the company announces they engaged them, I will take what shorts claim with a grain of salt. Furthermore, they are an I-bank and not lawyers. I have to admit one thing though.  I would be very much pleased if the Cinvennpayments are in play. Cinven should voluntarily waive

[BaytexBull]

Just because they have hired PJT (from "sources") also doesn't mean they will untimately file for restructuring/bankruptcy, but it does make sense for them to do so now while they still have money in the treasury !!!  Why not clean out all the money while they are at it !!! The issue is if they hold back 90m from the earnout payment to Cinven then this will trigger a default

[Lumberfeverlong]

In what basis would someone sue the board for making a payment it is contractually obligated to make. You spew complete nonsense. Cinven not bondholders are driving the bus. We are at their mercy not bondholders.

[BaytexBull]

Lumber, We disagree, but I guess that's what makes markets !  My read from the letter from the bondholders lawyers is that they will stop the payment to Cinven.  I guess we will see soon because I don't see how they can drag it out beyond Demcember 19th ..  Concordia has deferred it to the maximum allowed I do believe.    Wishing you a good day .... 

[Lumberfeverlong]

Would you please post the letter from bondolder's lawyers if you have it or inbox it to me I haven't seen it.