Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Wolf. Look into Sears case. Judge denied creditors moving it from chapter 11 to chapter 7 and concluded with selling Sears at a far greater loss to the creditors. I urge you to go through that case and you should develop a better understanding of chapter 11 processes.
Point of chapter 11 is not to protect creditors. UK might be. In America Chapter 11 is to protect the company from creditors and other parties. The judge has the ultimate power in proceedings .I say again. Research the Sears case for a great example of the chapter 11 process.
Director Led buyout is never happening. Unless they have 5 billion k in n their back pockets to payoff the lenders.
This will be taking over. But by another company who have deep pockets and can clear the debt while buying the company.
Because of the judges statement on the agreement. Waiting on confirmation paperwork to be signed off. Only way main lenders can get debts paid out in full. Anything else makes no sense for them. Hence why junior lenders are getting paid off now, before them.
Should get news tomorrow maybe Saturday as afternoon meeting. Hopefully will get time scale for sale of Cineworld and thus key dates to put into the calendar.
Dilution not in interests of lenders. The fact that their share percentage would mean them buying the company and paying all its running costs.
This company will be sold, completing in the new year. If a dilution was on the cards, there would not have been a massive delay in first day agreement. Lenders have forced Mooky to sell the company. They want their money in full now. Only way is to sell the company. Nothing else will get them close. So ignore dilution talk. It is not happening. WSJ articles were coming from Cineplex. Angered at Cineworld using chapter 11 to avoid paying them. Even though court of appeal would have overturned the payout anyway.
Look at the number of shares bought when chapter 11 started. Investment firms have taking shares off retail investors and will reap the profits when this is sold.
Sell now and watch as the company is sold at over a pound a share, to one of the big corporations lining up to buy it. Proposals by them are already prepared. Mooky can retire, safe in the knowledge that he managed to safeguard the finance for his family in the end.
Article has not followed chapter 11 case. Or would have noted last agreement where is says company to be sold and has no mention of lenders taking any shares.
If you are the main lender you do not let the junior lenders get paid in full and you gamble on getting paid in five years. Obviously a paid article by interested parties as is just a rehash of old stuff. Not relevant to the ongoing that exist today.
Once all proposals are in, the judge will whittle them down to the best two or three. Having a timeline will help motivate companies who have skirted around buying regal and AMC in the past to finally make an offer. The upside for a few companies will be more than worth the initial costs now. Also politics will come into play a bit. Companies will state they will not make an offer, only to submit one, closer to the cut off time. No proposal and that company can no longer bid. Then it is a matter of getting the best deal for lenders, shareholders and the company. Being a UK company, this should be passed for a shareholder vote.
I expect the date for proposals to be in, just before Xmas. The whole process should conclude in March next year. Then Cineworld will exit bankruptcy and be amalgamated into the company that buys it.
Sale is only way lenders would get money back, guaranteed. Junior lenders needed there money quickly. Credit Suisse struggling to avoid bankruptcy them selves. The only way the main lenders agreed for them to be paid off, is the sale of the company. There is a buyer probably already lined up. Probably was one before they took the company into chapter 11. Used chapter 11 to make the company more appealing and prevent any litigation. They cancelled their advertising contract with no legal grounds. Looking at a billion dollar lawsuit, if they continue trading as Cineworld. In the agreement further down the judge states company to be sold and four weeks for buyers to submit proposals. This Friday should hopefully see the full timeline for this process.
No restructuring. Cineworld is being sold. That is the outcome that was only acceptable to the main lenders. This way they allowed the junior lenders to be paid off now. They will be paid off on completion of the takeover. Mooky will probably take cash and buy back some of the cinemas outside the UK and America. Probably buy all the cinemas in Israel.
Dilution would see the main lenders forced to buy the company as their percentage would have to be above the 30% threshold. Hence why the company is to be sold off to another party.
Disney are making a Star Wars film next year with Taika Waititi directing. Then plan on releasing a Star Wars movie every over year.
The 17th will stop all uncertainties and crunch those down playing the stock. Motley fools posts are laughable. You would have thought they would try and read the judges statements. Come Friday the market will know what is happening and then will start buying in.
Avatar 2 is the big one. Disney need a mega hit from this. Anything less and things will look bleaker for Disney.
Cineworld will exit chapter 11 next year. As they will have been bought by another company. Hence why they can exit chapter 11 faster than is normal.
No if you read further down. Agreement also mentioned sell of Cineworld and four weeks for proposals to be submitted. This should come out on the 17th.
Why a company would pay more for Cineworld . Simple, there are only two cinema chains worth buying. AMC and Cineworld. To buy amc with the apes pushing the share price up on any movement would make it unviable. Cineworld has to be sold and at a reasonable price. Once a date is set for proposals. Expect numerous companies to bid. Even if it is just to make sure their competitors over bid to buy Cineworld. This may turn into a slugfest with some pretty big hitters
Will have 3.8 billion debt 4 billion in lease liabilities. But these are over ten years. Rents for properties will be paid for by profits generated in each year of operation.
When courts release details of the deal in full and next important dates. Main one for companies looking to buy Cineworld for their proposals to be submitted.
Once this is out then there will be more certainty and less manipulation of the stock. Till then this will fluctuate. So wait till probably next Friday morning for this to stabilise
Take more than 500 million to buy the company. Mooky would not settle for that. He is looking after his families inheritance
Probably on the tails of Disney crashing down. Sector as a whole not doing too well. Lots of investors in the market not happy.