Just gives a 9 page summary of what can be done under DIP financing, descrition, advantages, and disadvantages, parties involved, strategies, etc.
I particularly like the last paragraph:
As can be seen from the foregoing anecdotal examples, the uses, sources and
strategies of DIP loans in CCAA restructurings can be as limitless as the imaginations of the
insolvency professionals and financial stakeholders who structure them. By keeping this kind of flexibility in mind, a restructuring professional can achieve much more than simply “keeping the body alive” while the restructuring takes place around it. By managing, and in some cases completely skewing the business dynamics in a restructuring through an appropriate DIP loan structure, the chances of a successful outcome for all stakeholders can be greatly increased.
I feel that Bob's Plan B is pitting all the different parties involved against each other, specifically amongst differing groups of the existing bondholders who can be divided into the groups of 'friendly' and 'unfriendly', in order for us to get better terms for our financing. In addition, the New PP investors may decide to return to the table accepting existing or better terms when considering that we may not need all the money we originally asked for, espcially if some of the existing bondholders decide to rollover at better terms.
Crystallex has been good at winning legal battles and obtaining financing. Lets hope this continues, and at favourable terms for us shareholders too.
Everyone can eat and drink here, and Venezuela will be picking up the tab. Idiots.
Cheers,
FK.
