Sunday, November 19, 2023 1:31:42 PM
In this case, CCAA/BIA is a distinction without a difference. The US has Chapter 11 and Chapter 7, Canada has CCAA and BIA. So what? Companies still get liquidated and shut down in Chapter 11.
This other excerpt from that same judge's order seems to get ignored for some reason:
An appraisal isn't a sale price, and even at that distressed value, shareholders and all the unsecured creditors would still have gotten nothing. Some secured creditors would have gotten more.
Under the "scrap" theory, you overlook the costs of doing so. It was a chemical plant, and would have to be cleaned up for scrap. And, yeah, there was a desire to sell to someone who intended to operate the plant, pay taxes, employ people, more taxes, etc.
The "seeming inconsistencies" are just more made up nonsense to further the fairy tale. The case was closed over 4 years ago, plant sold over 5 years ago, approaching the 4th year anniversary of the stock ticker being deleted, and all this without even a whisper from the company itself which you and others pretend to believe is secretly in operation.
This other excerpt from that same judge's order seems to get ignored for some reason:
An appraisal isn't a sale price, and even at that distressed value, shareholders and all the unsecured creditors would still have gotten nothing. Some secured creditors would have gotten more.
Under the "scrap" theory, you overlook the costs of doing so. It was a chemical plant, and would have to be cleaned up for scrap. And, yeah, there was a desire to sell to someone who intended to operate the plant, pay taxes, employ people, more taxes, etc.
The "seeming inconsistencies" are just more made up nonsense to further the fairy tale. The case was closed over 4 years ago, plant sold over 5 years ago, approaching the 4th year anniversary of the stock ticker being deleted, and all this without even a whisper from the company itself which you and others pretend to believe is secretly in operation.
I swear I’ll never use the phrase “you can’t make this stuff up” ever again after being on the OTC. Apparently you can.
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