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28/11/19
07:49
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Originally posted by robbo24:
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Maybe CHEL is the party providing the loan facility and will also get a big chunk of equity for their troubles. Poor GXY. "An order pursuant to Section 447A(1) of the Act to the effect that the Voluntary Administrators are justified in causing the Companies to enter into and perform the new loan agreement and related agreements with CHEL to facilitate the refinance of the Galaxy debt . •Orders under Section 588FM of the Act extending the time for registration of the new security interests to be granted to CHEL as part of the refinance. "
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More like poor shareholders (GXY included). Either way, this only plays out well for creditors and CHEL (if things go their way in court today).