Andover Mining Corp. V.AOX

enirgi will bid... or?

[dosco]

In his affidavit evidence Mr. Scargill agrees that there were negotiations as described by Mr. Blankstein. However, they ended when he (Mr. Scargill) asked Mr. Blankstein to consider all or majority ownership by Enirgi in Andover. This was the “only possible involvement” by Enirgi in Andover, according to Mr. Scargill. He asked Mr. Blankstein to consider “what sort of transaction” that he and Andover might be interested in “but no transaction was ever proposed by Mr. Blankstein outside of a sale by him and his family of their equity ownership stake.”  Since there was “no realistic likelihood” of a transaction, Enirgi decided to cease its efforts and turn its attention on being repaid for the first note.

[souwester]

For shareholders, majority ownership by Enirgi would have been better than the current bankrupt state.

[dosco]

obviously... but we do not know what enirgi would have been offered... or ?