Originally Posted by
crunchingnumbers
It will be interesting to see the common shareholders response to the fact that Bristow neatly carved out performing assets (Trinidad, UK etc etc), even though some of these operations were undoubtedly established with the help of US shareholder equity.
Wiping out those shareholders like GVIC and others with long term positions to satisfy secured creditors and bond holders, whilst trying to attract new investment under the guise of 'new' shares will not likely happen quietly. I'd be waiting for my class action paperwork in the post
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If I have understood Ch11 correctly the common shareholders have not much the say.
Only the holders of secured notes and loans have something to say.
I think GCIV was therefore very late (2 or more years) with their letter to the board and alternatieve plan.
Class action suit is of course a possibility. (to give some other lawyers a piece of the cake)