PPRuNe Forums - View Single Post - Hard times for Norwegian
View Single Post
Old 19th Jan 2021, 09:53
  #1136 (permalink)  
andrasz
 
Join Date: Sep 2008
Location: Where it is comfortable...
Age: 60
Posts: 911
Received 13 Likes on 2 Posts
The phrases in the OSE filings are pretty much standard CYA clauses that need to be included for any company under bankruptcy protection, and present a possible worst case scenario rather than the most likely outcomes. I am not familiar with pertaining Norwegian law, but Big Tudor is correct, the company needs to demonstrate a viable business plan to be able to continue operations under protection, and stock exchange rules are even stricter when it comes to issuing new shares under such circumstances. Anyone familiar with financial statements phraseology will hardly blink, nothing in there which we did not know already. (In a non-airline business I personally signed financial statements that included some similar wording in the audit opinion on an ongoing basis for nearly 10 years...).
andrasz is offline