disposing of bcs, page-7

I don't hold BCSCA, but feel very sorry for the people that have found themselves in this situation.

Prudence - that idea you suggest makes sense and would be fine for the sellers of the warrants. But wouldn't the directors of the investment vehicle that purchases the warrants be potentially liable for breaching their directors responsibilities by knowingly entering the company into a commitment that it is unlikely to be able to meet?

I guess if it is a 'trading company' the directors could argue that their intent was to on-sell the shares prior to the installment due date but it would be shaky legal ground I would have thought - so the directors of the investment vehicle would potentially be up for prosection.

The sellers would all be home free as far as I can see but you'd have trouble finding someone willing to sign on as a director of the purchasing entity I would have thought.