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trandernine

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trandernine

Re: dano9008 post# 7618

Thursday, 06/27/2013 7:33:06 PM

Thursday, June 27, 2013 7:33:06 PM

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Dano, what do you read of Monitor's 10th report?

I could not yet digest the report saying "Monitor understands that Southgold's unsecured creditors will recover only a fraction of their total debts"

Under liabilities/creditors, the debt totalled is about 415M.

It sounds like Monitor probably were informed about cash proceeds in the sale agreement and thus monitor's of the opinion that unsecured creditors recover only a fraction of their debts.

Also interesting to note that the total DIP loan 54M and entire existing lenders loan 230M are all being accounted to come off from burnstone sale proceeds and thus monitor 'expects' there will be nothing left for unsecured creditors?
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