<<Being so close, with all creditors except bondies agreeing, and a result of scuttling the company will say the system does not work. Not a good thing for the CCAA system. >>
Not sure what you meant by this statement since the note guys are 95% of unsecured debt.
Really it could break either way. In many ways the fact that there is only one real creditor that matters makes a debt roll much easier. They offered shareholders 14% at one time, maybe the fair thing to do is offer them 14% interest as a start. I do suspect if there was a big give away planned on the first management plan, that we may finally see next report, the stock would have really tanked. Thats not to say it wont eventually go that way but the holding pattern seems intact.