After reading all of this report it seems fairly inevitable what is going to happen. There is nothing left. Ch.11 will start and the important point is only the US based part of business will receive any protection.
we believe that Bankruptcy Proceedings could result in a limited recovery for unsecured noteholders, if any, and place equity holders at significant risk of losing all of their interests in the Company.
For the majority, which is outside the US - nothing. Unfortunately employees are all “unsecured creditors” so unless their home country has some form of wage protection again bankruptcy, they will receive nothing. I fear there will be a large number of employees who may not receive their wages soon.
There are many very worrying statements in this report and far too many to list. I suggest anyone currently employed by CHC should red this very carefully and seriously consider their own future and security.