Thursday, June 13, 2024 9:25:20 PM
Thinking out loud here based on a factual Court document...(I know thats frowned upon by certain legal professionals that circle like rodents around shareholders)...But here we go:
"Prior to the Commencement Date, the Company owned de minimis assets in the United States, limited to an office lease and certain furniture and
other personal property."
Are these the only assets that were sold during the Proceedings? If so, where are all the other assets located at? According to Court filings they are not located in BA Canada or BA Sarnia.
And if they moved assets into this Corporation: where did they move them from? According to Court filings not from BA Canada or BA Sarnia because they claimed zero assets.
And then you have to ask: exactly what assets did they move?
If your answer is "they only sold what was in there" then you have to admit there are a lot of assets left that belong to BA.
If your answer is "they moved assets into that Corp" then you have to admit you don't what assets they moved, where they moved them from and how many assets are left or the value of them. All you know is that value received for "certain assets" was the highest and best offer.
All that being said: Court documents show they liquidated 3 corporations with very few assets. I'm not arguing they weren't liquidated-i'm just saying according to Court filings they didn't have much to liquidate. And if the restructuring plan had been made public by PwC this would be much more transparent.
IE
"Prior to the Commencement Date, the Company owned de minimis assets in the United States, limited to an office lease and certain furniture and
other personal property."
Are these the only assets that were sold during the Proceedings? If so, where are all the other assets located at? According to Court filings they are not located in BA Canada or BA Sarnia.
And if they moved assets into this Corporation: where did they move them from? According to Court filings not from BA Canada or BA Sarnia because they claimed zero assets.
And then you have to ask: exactly what assets did they move?
If your answer is "they only sold what was in there" then you have to admit there are a lot of assets left that belong to BA.
If your answer is "they moved assets into that Corp" then you have to admit you don't what assets they moved, where they moved them from and how many assets are left or the value of them. All you know is that value received for "certain assets" was the highest and best offer.
All that being said: Court documents show they liquidated 3 corporations with very few assets. I'm not arguing they weren't liquidated-i'm just saying according to Court filings they didn't have much to liquidate. And if the restructuring plan had been made public by PwC this would be much more transparent.
IE
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
