Oh, please, all that is just a made up “dot connecting” fairy tale to unload dead stock and nothing more. Nothing happens “outside of CCAA” (and US Bankruptcy) for a company that’s in it. That’s very basic stuff. Once a company asks for protection from creditors, they can’t do anything the court doesn’t approve within the bounds of those processes. Period. So if it hasn’t been disclosed by the monitor/trustee and hasn’t been approved by the judges already, it isn’t happening.
A $20 online form submitted is meaningless.
The online resumes are meaningless. You think somebody who wants to continue “board work” for other companies is going to put “ran the company into the ground” on their resumes? Nope, they’re going to take credit for entering CCAA and Chapter 15 and never ever speak of the results of those proceedings.
LCY, KKR, Visolis, and any other chemical company on the earth are going to continue to do their business. Some of them have lots of capital and make investments and acquisitions. None of them have ever been tied to this empty, debt ridden shell since the transaction that liquidated its assets. Not one single connection except in fairy tales. Know why? Because it is ridiculous to even consider they’d take on $100M of debt and get absolutely nothing of value for doing so.
Those fairy tales are getting more absurd as the clock ticks towards the Delaware court date and the inevitable dissolution of the company and cancellation of the common stock. That’s what happens to empty shell companies with no assets, no operations, no employees whatsoever, that are deeply in debt. Every time.
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