Have you seen the judge's order closing the CCAA? I ask because it's been out there for, what, 5 days? Pretty good read for the first time ever.
The judge commented on the Visolis transaction. The bid from Visolis and LCY for the assets (a Visolis letter with an LCY letter "affirming" the offer enclosed) was submitted under the CCAA, it was accepted under CCAA, approved by the judge over CCAA (as well as the US Bankruptcy judge), and closed under CCAA. The judge then closed the CCAA with this comment on the transaction:
Sorry, but that's crystal clear and direct, so no matter how much of a "mystery" is drummed up about that letter that "affirmed" the offer that is now closed, there's really no mystery at all. It's done, closed, and $4.34M was the whole of it.
The judge also took the time to comment on "restructuring."
That's crystal clear, too. This is an empty shell, nothing of value, no employees, and still carrying a massive debt. That's the result of the restructuring, and there'll be nothing further.
What, exactly, is unclear about what the judge has written with respect to that transaction and the financial state of this bankrupt company?
That deal has closed and as plainly stated by the judge creditors have lost millions . So it is just an affirmation of the 4.34 million sale . And since that deal happened during the ccaa and the ccaa is being closed with no other plan submitted but a liquidation of assets there is obviously nothing else to it . But i do understand your fantasy spin on it . Since it hasnt been seen it must mean something besides what it actually says. Hahaha
Market Data 
Markets 
AI
