Probably not simple at all! It's not applicable to CHC Scotia - but there are plenty of European companies on the petition (CHC (Netherlands), Heli-One (UK) and on and on)
I know nothing about Ch 11 and so idle curiosity led me to have a look at the petition. I notice that the list of the top 30 unsecured claims has a UK company at No 2:
Name: McGrigors Pension Trustees Limited
Address: 141 Bothwell Street, Glasgow, G2 7EQ
Pensions
Liquidated
Unsecured Claim - $66,440,996
So does that mean that a pension pot is going to lose $66m? Somebody please educate me.
Makes the $5m-ish that they owe to Finmennica, AH and Sikorsky look like loose change.
I just hope that the incompetence of the bigwigs does not turn into financial pain for the worker bees. Oh sorry, I forgot - it's all the fault of the leasing companies.
