That was all discussed before, and really not the point.
Point is, courts support management making the business decisions.
And, CCAA exists to protect a company from having to liquidate.
The noteholders actions throughout this process has been to eliminate all shareholder value. The Tenor deal may do the same thing but atleast we have a chance. The judge decision to go along with management was probably based on the noteholders greed.
The CCAA situation for us is not the norm. Most companies under CCAA don't have the potential to not only pay off all debt but retain a sizeable amount of money. The judge was well aware that if we won in arbitration (and collected) there would be enough money for everyone.
JJ
