Replies to post #13812 on Great Basin Gold Ltd. (fka GBGLF)

[goldenpolarbear]

"...Definitions relevant to the business rescue provisions of the Act
>Affected Person – shareholder, creditor, registered trade union representing employees of the company or if any of the employees of the company are not represented by a registered trade union, each of those employees or their respective representatives
>Business Rescue - proceedings to facilitate the rehabilitation of a company that is financially distressed by providing for –
>temporary supervision of the company, and of the management of its affairs, business and property;

Definitions relevant to the business rescue provisions of the Act
>Affected Person – shareholder, creditor, registered trade union representing employees of the company or if any of the employees of the company are not represented by a registered trade union, each of those employees or their respective representatives
>Business Rescue - proceedings to facilitate the rehabilitation of a company that is financially distressed by providing for –
>temporary supervision of the company, and of the management of its affairs, business and property;..."
http://www.tma-sa.com/events/tma-sa-conference-2015/80-13-35-pm-jared-n-and-eric-l-werksmans-attorneys/file.html

Nagoya, obviously Sibanye Gold is NOT playing by these rules and seems to be using the fact that GBG was purchased through Wits Gold to ignore their part of the Business Rescue of Great Basin Gold...

I think Sibanye considers SouthGold/Burnstone fully out of the Business Rescue but are they following the South African Business Rescue Plan provided via the courts?
Extreme long shot now...

I do not think BlackRock, MacKenzie or VanGuard will take this lightly and the fact that they are not selling their shares makes me think...

Why did the creditors agree to the BR Plan if they are going to get nothing... This ALL does not add up and the SEC is not going to take lightly the fact that GBG has not properly filed in years...

Heroz or zeroz, well our odds look dismal...

If these shares are still trading and not on the frozen OTC Grey Market in 2017; just maybe $$$

In 2018 if these shares do not come back to life = zeros imho

[goldenpolarbear]

Credit Suisse is owed $200 million...
CIBC Is owed $2 million etc...

Ron Thiessen has a large fortune to lose if these GBGLF shares go to zero so... Hmmm...
https://home.kpmg.com/content/dam/kpmg/pdf/2016/05/list-of-creditors.pdf

"... Name
United States / Other vendors (US$)
Address Amount
Banks
Directors
1 Arthur J Gallagher (UK)
2 Breakstone Group
3 Milbank, Tweed, Hadley & McCloy LLP 4 Richard W Harris
5 Sidley Austin LLP
9 Alie Street, London, E1 8DE
470 Park Avenue South, Suite 7N, New York, NY 10016 1 Chase Manhattan Plaza, New York, NY 10005-1413 6121 Lakeside Drive, Suite 260, Reno, Nevada 89511 One South Dearborn Street, Chicago, IL 60603
(180,000.00) (1,659.05) (413,879.00) Unknown Unknown

1 CIBC
595 Bay Street, 5th Floor, Toronto, Ontario, M5G 2C2
(2,066,929.00)

2 Credit Suisse A.G (207,000,000.00)
Paradeplatz 8, Zurich, Switzerland 8001

1 Cooke, Patrick
2 Coughlan, Barry
3 Dhir, Anu
4 Matloa, Octavia

5 Thiessen, Ron (HDI)
Unit 10, Rattray Park, 18 Buckingham Avenue, Craighall Park, Johannesburg, South Africa 10-5650 Hampton Place, Vancouver, BC V6C 2G5
1470 Watersedge Road, Mississauga, ON L5J 1A4
1090 Arcadia Street, Infotech Building, Hatfield, Pretoria, 1760, South Africa
(4,791.67) (4,223.67) (6,362.00) (4,333.34) Unknown

Convertible Debentures
IN THE MATTER OF THE COMPANIES' CREDITORS ARRANGEMENT ACT , R.S.C. 1985, c. C-36, AS AMENDED IN THE MATTER OF GREAT BASIN GOLD LIMITED

List of Known Creditors of Great Basin Gold Limited as at September 19, 2012

Prepared as at September 19, 2012 *
1108-1030 West Georgia Street, Vancouver, BC V6E 4H1
1 Computershare Trust Company of Canada, as Trustee510 Burrard Street, 2nd Floor, Vancouver, British Columbia V6C 3B9 Note: Information provided by Great Basin Gold Ltd.
https://home.kpmg.com/ca/en/home/services/advisory/deal-advisory/creditorlinks/great-basin-gold.html
(126,000,000.00) ..."

Great Basin Gold Ltd. (the "Company" or "GBGL") filed an application before the Supreme Court of British Columbia (the "British Columbia Court") pursuant to the Companies' Creditors Arrangement Act, R.S.C. 1985 c. C-36 as amended (the "CCAA").

The British Columbia Court made an order (the "Initial Order") on September 19, 2012, granting the Company the protections afforded by a stay of proceedings until October 19, 2012, while the Company pursues restructuring initiatives under the CCAA.

The Initial Order appointed KPMG Inc. as Monitor of the business and financial affairs of the Company in the CCAA proceedings.

Contact Information

Kumanan Ramanathan
[e-mail]

CCAA Proceedings

[goldenpolarbear]

As publicly disclosed at www.sedar.com, in September, 2012, Great Basin Gold Ltd. (“GBG”), a company for which Mr. Ronald W. Thiessen was at the time a director, filed for creditor protection under the Companies’ Creditors Arrangement Act (“CCAA”) in Canada, and as well, GBG’s principal South African subsidiary Southgold Exploration (Pty) Ltd. (“Southgold”), filed for protection under the South African Companies Act business rescue procedures. These companies continued to be subject to the insolvency proceedings at the time that Mr. Ron Thiessen resigned.

https://www.tasekomines.com/assets/docs/Information-Circular-june2016.pdf

Ron is NOT directly linked with GBG but I highly doubt that he dumped his numerous GBG or presently GBGLF shares...?
https://www.sec.gov/alj/aljorders/2016/ap-4010.pdf

https://home.kpmg.com/content/dam/kpmg/pdf/2016/05/oral-reasons-for-judgment.pdf