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Deal makers welcome the Supreme Court's views ...Read the full article
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All About The Money from Canada writes:
Upholding Quebec's decision would be "legislating from the bench".
It would be making new law and applying it retroactively, to the detriment of hundreds of thousands of investors.
The courts should tell the legislators to clarify the legislature's interpretation. And allow this take-over to go through as agreed.- Posted 09/06/08 at 12:15 PM EST | Alert an Editor | Link to Comment
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John Cameron from Red Deer, Canada writes: So who would want to hold bonds without clear protection from an event like this? Seems to me that the deal was "structured" to avoid the bondholders. Well the supreme court can just go ahead and unstructure the deal. I believe the court case is not about regarding the bondholders rights per se vs shareholders but shareholders and management going around them(bondholders) by various means.
As such this is not legislating from the bench but clearing up a vague law.- Posted 09/06/08 at 2:23 PM EST | Alert an Editor | Link to Comment
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John smith from Canada writes: Going around the bondholders? What ever happened to the notion that if the bondholders wanted certain protections they bargain for them and presumably pay for them through lower interest rates rather than management and the shareholders having to give those protections to the bondholders for free.
- Posted 10/06/08 at 3:47 AM EST | Alert an Editor | Link to Comment
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