The hearing is oct 12 and 13, i dont think we'll get the decision right away thou.
cant find what happened to the six-flags-sh
https://investors.sixflags.com/news-and-events/press-releases/2010/05-03-2010
average here is 9,19p. atm i am really torn whether to hold or just wait for a break-even exit. I've been 100% in favor of Cineworld and believed in its revival to 1 pound and plus. But this DiP uncertainty has made me doubts
For those unfamiliar with C11 - Does any1 here know of C11-situations that have recovered and if possible could you link them so that people can at least look at the past to get some feeling of what the possible outcomes of a succesfull c11 can be
Thanks in advance
BB / RS - do you know, in the event that the cineplex claim is overthrown, and new financing becomes available, what the options could be. Can lenders give new funding to a C11 ?
This DIP-funding, what does this translate to? cuz it cant seem to find any terms for this funding. am i naive in thinking this is all pure debt and no new Equity will emerge from this?
@ profit - source on the savings?
I think he was pushed into this as a last resort. You can read in c11 filing that the whole cineplex-thing was a big dealbraker for getting new funding. The company was pushed to a situation where they merely had 4m cash so i think this was a last resort/forced hand.
I do believe he will do anyhting possible to re-emerge with the best hand possible but i think we are subject to factors beyond our and their control.
Ideally, CP-hearing turns to our favor, but given the current situation, im not sure how this would play out in terms of new funding.
i am not educated on the whole c11 / debt in possession - thing so i have no idea how this can play out (both in a favorable and unfavorbale scenario).
Yeah, the 275m share thing is something to hold on to.
I wish we had more technical insight on how this c11 can turn out in terms or delution for current shareholders. Or if CW could post a couple scenarios so we at least have some clarity and would be able to re-assess our own plan.
SP was 45p before PLEX judgement - check 13 dec 2021
please look at page 60.
Anyone with proper knowledge know what this implies:
"The remaining $271 million of the DIP Facility will be used to facilitate a transaction pursuant to which a newly-incorporated Group entity will purchase the RoW Loans (the “RoW Credit Facility Transaction”)."
Thanks for posting this!
@ ian, so its a sort of facility/revolver. and is a understand its from their current lenders. So in essence, no shareholders.
Am i delusional in thinking there's a still a scenario where shareholders dont get deluted? ie they just delay loans with this new facility and reschuffle the repayment schedule.
So, given the recent RNS, what is a plausible outcome for this if Q3/Q4 Deliver satisfying cash flow?
What role does the new 1.94 DIP loan play? How does a succesful c11 recovery play out?
So what does this RNS actually mean. The essence is this: (please feel free to correct or add so we can all make clear sense of this. ))
Seems like CW has commenced to obtain 1,94b in Debtor-in-Possession Financing (DIP)
Link: https://www.investopedia.com/terms/d/debtorinpossession.asp
The info i found makes me believe this is a prioritized loan and does NOT affect the current Shareholder structure. Correct?
Other than that its just rephrasing what already was mentioned in previous RNS
I'm sorry but, i dont understand the excitement here. C11 is now confirmed yet everyone is positive? isnt this bad news?
oh btw - if they are paying 100mil on legal fees, they might aswell just stop it all and give it to plex and be done with it lol
@mount yeah it does seem off that they would waste time on this if there was a dummy corp to take the hit. Maybe there is some kind of legislation that "sees through"/cancels out these kind of setups.
I dont know what to think about it, i try to not take it into consideration as the info on it is not clear and incomplete. The main reason for me believing in a favorable result with PLEX is the details of the posted info on the 1st judgement.
The damages are way WAY disproportionate and afaik there are so many M&A deals that fall through so i dont see why this one would lead to such a claim, considering this one actually has covid as a nice excuse. i think the judge erred with just "accepting" whatever PLEX wanted as damages without taking into consideration the correctness of it all. i hope CW legal team have made a solid case to at least quantify reasonable damages rather than just saying there is no fault.
Lastly i hope there is no "hometeam" advantage to this case and that we get a judge that has a sense of reason and we get whatever we "reasonably" "deserve"
Then again - Plex is fighting in own country, so you never know how it can go. Court does not always make sense so
ideally, they have a defense accepting a part in blame cuz if theyre gonna aim to prove innocence and not fight the amount, theyre idiots.
Ild rather pay for something reasonable than paying out of hardheadedness.
HAHAHAHAHAHAHAHAHA - Nice ! thanks for sharing XD Love it
the way he says "Careful now", very fitting.
@ banshee - no not at all, dont even think i know the reference you mean.