AI
Friday, February 15, 2019 2:02:17 PM
Where is a link to that statement?
Please post links or else the statement is FALSE
The company simply filed for chapter 11 first then got is dismissed and filed for chapter 15 which is not a proceeding in itself but its recognizes a foreign proceeding as the main!
https://www.thebalance.com/what-is-chapter-15-bankruptcy-316205
No, it won't. The company has also fully liquidated its US assets and is being wound up. It cannot continue as a going concern even if they wanted to.
If that were in any way factual, there would never have been any need to file for bankruptcy in the US in the first place. But they did, because there was never any hope of repaying the US creditors or the debt of their Canadian subsidiaries which the US parent had guaranteed.
The stock will be cancelled, and anyone holding shares will lose 100% of their investment.
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