RE: Cineplex2 Jan 2023 14:43
what we know so far in this case, everything else is just speculating
and rambling by a few before trading start again tomorrow, and should be dismiss as such.
official RNS Sept 28th
The Company filed an objection to Cineplex's motion on 22 September 2022.
· A hearing before the United States Bankruptcy Court for the Southern District of Texas (the "Court") took place on 28 September 2022 to consider Cineplex's motion. The Court denied the motion and ruled to uphold the automatic stay in connection with the Chapter 11 Cases and, as a result, the Company expects its appeal process relating to the Cineplex litigation to remain on hold. Any amounts owed to Cineplex will rank alongside the Company's other unsecured claims and will be determined as part of the Chapter 11 Cases.
Outlook
· Q3 admissions have been below expectations.
· Q4 is anticipated to be stronger, supported by the scheduled release of Black Adam, Black Panther: Wakanda Forever, Avatar: The Way of Water and other blockbuster films.
i don't see how we can talk about lawyers fees on here, or anything about Cineplex
when the case have been put on ice during the ongoing C11 process?
I'm sure Cineplex will be paid at some point'' whether it's at the price
originally signed for, or at a reduce level we just don't know.
all we know is that Q4 revenue must be bursting at the seams ATM
and profit could well be a lot higher on the strength of Avatar2
box office ongoing numbers coming out every few days, and that
there is still hope for a good outcome for all stakeholders inc us
if we can exit C11 intact for 2023, and although there is still a risk
of that not happening, that risk have been dramatically reduced
from 70% after court awarded $784m at the start, to about 10% now IMO, the last risk assessment
was from youtube Mr white, and he was saying around 30% before A2 release
so one would assume that risk would be a lot lower on the new numbers of $1.4b?
anyway looking forward to Mr White next Youtube Annalist and his thoughts
in this ongoing debacle, in the absence of official news
ATB