In the article you cite, you can find the following lines:
"The CCAA offers the board and management of troubled companies a number of protections. Firstly, it provides companies and their boards with a stay of proceedings. Secondly, they are given the authority to continue operations and to remain in control of the company. Thirdly, boards are granted time to work out a
restructuring solution or arrange for an expedited sale. Finally, boards and management teams benefit from court approval of significant board decisions along the way."
What might this mean in the context of "evaluating multiple bids"?
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