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The monitor of CCAA has power inside the CCAA and outside the CCAA. He can make any deal that is in the best interest of ALL Party's. The Judge just has to approve. He did, so did all the party's that were owed money.. you think the Queen is going to take 2% of the debt and just let the property go? Are you CRAZY?
I am going to add to this post a bit. lets do some math real quick... 35.8 million divided about about 9 million shares in the last 10k for exec comp....is about 3.97 a share.. does that ring any bells? real close to 4.17...lol. IMO of course, but I can add and stuff.....
all those words and yet they say nothing.... Facts baby... thanks for providing them.
You did it again...I can't believe it... I get some of the best DD from you bro.... Your awesome...keep putting in that work baby.. You see that down there... what does it say above the Red Line???? You notice that they are 5th down the list of folks to get paid and guess what?......... they got paid..... 5th on the list to reap any benefits of this transaction. Can you say "ROSEN"?
Nice work bro.. really nice work. LMFAO.......
Hey. Love this post. Still relevant today folks... lol...
except there was no dump part.... hmmmm. This stock was bought up, not sold down...... early Feb gents.....hold the line and make yourselves a drink.....
Here it is for your Enjoyment. This Says that about.... 56 million dollars of Lien's were removed from this DEED and transferred to the new Owner FREE and CLEAR. Now does a Judge in CCAA RESTRUCTURING have the ability to move that amount of money to the sale of the company? YES HE DOES... 100% he does.......
notice all those deleted numbers at the bottom... those are all previous liens on the property. POOF....
was this read.... by you? it says nothing of the sort. It says that the debt on the Lien can be moved to funds from the sale of the company so that the property can be transferred free and clear in the Transaction to the buyer... you should know.. you proved it happened to the WORLD..... AND YOU PAYED FOR IT......
that part cracks me up too..... lol.
The Acid Bath of the Vesting Order
When assets are sold through CCAA proceedings, whether as part of the financing of a restructuring or through a creditor and court-approved overall plan of arrangement, a vesting order is issued by the court. The effect of the vesting order is that the creditors’ claims to the assets included in the sale are converted into claims to the proceeds of the sale, with the creditors ranking in their pre-vesting order priorities in respect of the distribution of such proceeds. The assets are transferred free and clear of registered encumbrances, security interests and claims against the assets, unless explicitly assumed by the buyer.
A court order under the CCAA can also remove the need to obtain certain consents and other requirements for closing a transaction. This would include shareholder consent and consents from parties to contracts concerning the assets. For example, the CCAA expressly authorizes the court to assign contracts to an assignee, notwithstanding restrictions on assignment in the contract, if certain pre-conditions are met. In addition, certain regulatory requirements under securities and other legislation can be avoided or ameliorated through the vesting order. Another advantage flowing from court supervision of the process is that the court will expressly approve the transaction, thus reducing the risk of future challenges to the validity of the transaction.
would not doubt if we have to vote to accept the offer as well.
very well said and I agree.
In reference to today's activity: this video for you all.
Where does 257 and 255 come from?
That is CRAZY........
Nope.. still the same... full value. lol.
Yep, I would post it but... i will let you ponder....
wow, good catch as always....
folks be like.... WTF..... Oh Smack... I coulda, I shoulda..... lol.
Still not Number 1 on most read.. but that will soon change.....
Judges supervising proceedings by a debtor company under the CCAA have broad powers and discretion to allow insolvent companies protection under the CCAA to deal with their assets. This broad discretion can allow for business combinations and asset sales to occur that might otherwise not be possible.
yep. like BioAmber?
flippers made money sure.. but that has nothing to do with the DD....
I know.....lol.
Ya folks that hold the stock right now are really pumping for the dump right? lol.
Cha Ching.... did you hear that? what was that?
The Acid Bath of the Vesting Order
When assets are sold through CCAA proceedings, whether as part of the financing of a restructuring or through a creditor and court-approved overall plan of arrangement, a vesting order is issued by the court. The effect of the vesting order is that the creditors’ claims to the assets included in the sale are converted into claims to the proceeds of the sale, with the creditors ranking in their pre-vesting order priorities in respect of the distribution of such proceeds. The assets are transferred free and clear of registered encumbrances, security interests and claims against the assets, unless explicitly assumed by the buyer.
A court order under the CCAA can also remove the need to obtain certain consents and other requirements for closing a transaction. This would include shareholder consent and consents from parties to contracts concerning the assets. For example, the CCAA expressly authorizes the court to assign contracts to an assignee, notwithstanding restrictions on assignment in the contract, if certain pre-conditions are met. In addition, certain regulatory requirements under securities and other legislation can be avoided or ameliorated through the vesting order. Another advantage flowing from court supervision of the process is that the court will expressly approve the transaction, thus reducing the risk of future challenges to the validity of the transaction.
You just got Chemtrailed....by the Capt.
Sure they did.....
I disagree. thank you.
good luck to you sir. The DD speaks for itself. NO WAY 4.3 milly for it all. NO FKN WAY...
LCY just picked up a finger for a really good price, now they will go for the Hand since a finger is only a finger and a Hand is THE HAND.... one is not good without the other. Still many companies in Bioambers umbrella. Takes time.
Good things coming. Remember Bioambers Lawyers specialized in something other than Bankruptcy as well.....hmmmmmmm....
Yep... nothing was done IN THE CCAA... He is right......It happened OUTSIDE OF THE CCAA...lol.
your right. thank god it was a restructure.
that's funny... because the word Liquidation can apply to a subsidy dissolving back to the parent company as well.
3 Liquidation vs. Dissolution p.323 Liquidation as a tax concept – termination of corporate activities, satisfaction of liabilities, and distribution of the corporation’s assets.
Liquidation of a subsidiary into a parent corporation – assets remain held in corporate form (i.e., held by the parent corporation). Result to controlling corporate shareholder: Under §332 – no gain or loss on the receipt by the corporation of property in the complete liquidation of an 80% or more subsidiary.
anything would be wonderful really but the shares in the new company are very exciting.
we shall see wont we?
patients is Key.... I stole that line.....
we know that this " qualified bid " included a share purchase and royalty. I have seen it with my own eyes........ waiting for the next duck to be shot down... not many left standing....
ok, but the share purchase will take care of the outstanding debt the company still has if that is the case. I can see him moving said liens to another form of documention just as long as the outcome is everyone getting paid and moving on. No Way everyone agreed to get screwed.... not going to happen...and did not happen.
then they took over payments....