Replies to post #24076 on AbitibiBowater, Inc. (fka ABWTQ)

[emailjanum]

NOT THAT IT MATTERS ANYMORE.....

'The Debtors revised the financial projections prior to the voting and objection deadline without disclosing such revisions to the Court, shareholders, creditors, or other parties in interest before the expiration of the deadlines. This was a material omission. See In re Brotby, 303 B.R. 177, 194 (B.A.P. 9th Cir. 2003) (“A debtor’s projected future income is relevant both when a disclosure statement is approved and at confirmation.”); see also In re Oxford Homes, Inc., 204 B.R. 264, 269 n. 17 (Bankr. D. Me. 1997) (disclosure statement should include “financial information, valuations or pro forma projections.”). Because the Disclosure Statement did not contain the revised projections and the Debtors still have not publicly disclosed the revised projections or an updated valuation based on such projections, the Disclosure Statement did not provide “adequate information” within the meaning of section 1125 of the Bankruptcy Code.'

[KFC44]

Thanks for sending this as a reminder


Not that it really matters as well, but Barclays, and J.P. Morgan continue to be big mm's on Tembec (a small Canadian Company -- relatively speaking). Why? Buyers at almost every technical point, along with Anonymous, BMO, GMP and Desjardins -- Canaccord was also big this week past.

Tembec Warrants

Recent Trades - All 2 today
Time ET Ex Price Change Volume Buyer Seller Markers
13:26:12 T 0.38 -0.05 103 36 Latimer 79 CIBC E
13:17:21 T 0.40 -0.05 2,000 36 Latimer 7 TD Sec KL

Wayzata recently did a Private sale on some of its non-direct warrants ($12.00 exercisable under certain conditions, including a filing of a POR). Identified on SEDAR and Canadian Insider. Why private deal. There are 11 mil;lion warrants o/s.

Close of tembec warrants was $0.40 on Friday. Close of ABWTQ was $0.039 on Friday.

Tembec has yet to formally announce their two transactions pre-announced during conference call).