Lakeview Hotel Investment Corp. V.LHR

biggest joke ever: management information circular

[riverrrow]

According to the circular I'm expected to accept and trust the advice from some anonymous analysts at Tw Advisory as to what to do with my million dollar investment in debentures.  You would think they would at least sign their names to their report and provide me with their contact information.  They claim they reviewed a number of reports, documents, etc. including Colliers Lakeview Asset Valuation Summary.  Why not share these reports in the circular so the debenture holders can make their own assessment.

Secondly, the proposed arrangement includes paying $14.8 million dollars to a lending syndicate.  Who are the members if this syndicate and how much is each member owed?  What percentage of money owed to the syndicate is being paid out to the syndicate in this arrangent?  I realize that technically the debenture holders are normally behind the syndicate creditors, however, without the debenture holders repeatedly making concessions the company would have folded long ago.  Anybody doing business with the company or lending money to the company should be aware of the current risk.  I think it would be most appropriate for the lending syndicate to be repaid their debt at the same rate as the debenture holders.  My very rough guesstimate would be about 30 cents on the dollar, meaning a payout if $30 for each $100 debenture versus the $7.43 proposed.

[riverrrow]

Also, with only 20 million shares outstanding increasing the common share payout to 4.5 cents would only cost an additional $500,000.  I'm sure the lending syndicate would be willing to give this small sum to ensure that the deal goes through.  GLTA.

[alkhor]

Just voted against everything. 

[riverrrow]

Me too.  Maybe we can get a movement going.  GLTA.