Under CCAA, the Monitor is only obligated to disclose the following within two business days...
Court filings;
Monitor's Reports;
Plan Filing;
Communications with Creditors.
The Monitor is not obligated to disclose anything else. The Motion Material disclosures are a "gift."
My take is Commons will learn when one of the following happen...
Stay is extended;
A Plan is filed;
No Plan, meaning no agreement, can be reached.
Apparently, the first, into ad nauseum, is the speculated choice of many. The recently delayed filing has seen trading on Pinksheets become quite interesting. Several days of significantly increased volume might be some bailing, with other spec players getting in. Depends on your stomach for risk-reward I would imagine, plus a possible long wait for any reward. Or, maybe the increased volume days are all just coincidental (Hah!). The filed paperwork had an Oct 11 date on it. Monitor posts only company motions. The creditors seem to no longer have motions? Regardless, the OSB's reply to me noted the filing was still being worked on, so it appears filings can easily be back-dated. All of this just seems a bit smelly to me. This, plus no PR disclosure or update by the company, even to just say they are alive, leaves commons to scrape for tidbits of info. Absolutely the worst way to treat shareholders, especially the poor Canadians who have lost their liquidity. Sorry, just being real here.
