4.34M was selected from the offers received of 4.34M, 3.5M CAD, 2.11M CAD, .135M, .325M, 2.12M CAD, .07M , .335M, 1.5M, .15M. Why would they protest? WHAT would they protest?
Their interest in the proceedings was likely drastically reduced once the restructuring failed, as there was no chance of full recovery, and likely only marginal recovery possible at that point.
The secured creditors were paid $5.2M of a total of about $40M. That’s around 13%. The loans have a priority ranking, so the lower ranking ones got nothing, higher ranking ones got something. That’s how it works.
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