progress ubdate on ewc lng hub, pagbilao, page-8

Shamish, There is a price for everything. I don't what chandler paid for his equity, or even what debt is in front of him. But bankruptcy is a process that pays creditors. Then what is left is split amongst equity holders. If he paid 5c in the dollar and the payout is 10c then he did well. At least some of the sino forest assets exist. Their greenwood subsidiary owned real forests in nz. Further as the largest equity holder he is the driving seat with respect to taking control and proposing a restructuring to the creditors. All I am saying is that a bankrupty can be part of a long plan and is not necessarily the end - I have seen shareholders use it as a means to steal control and take the enterprise private.

However you are right EWC needs to show real progress with respect to assets on the ground if investors are ever to get comfortable with the big plan?