Share
clock Created with Sketch. 29/11/21
08:04
Share
Originally posted by Maestro73:
↑
So SLR is now first mortgagee of the company. Just like when you buy a house, there can only be one first mortgagee and they always get first bite of the cherry. To stick with the house analogy, in a foreclosure the first mortgagee would take the house, sell it and then remaining funds would filter down to second or third mortgagees, unsecured creditors would not be entitled to anything from the sale, but if there is any money left after that it would go back to the mortgagor.
Expand
Do you honestly think that Appian and new gold are simply going to roll over and play dead
Originally posted by Maestro73:
↑
So SLR is now first mortgagee of the company. Just like when you buy a house, there can only be one first mortgagee and they always get first bite of the cherry. To stick with the house analogy, in a foreclosure the first mortgagee would take the house, sell it and then remaining funds would filter down to second or third mortgagees, unsecured creditors would not be entitled to anything from the sale, but if there is any money left after that it would go back to the mortgagor.
Expand
o
