via FRAS Canada - Extiguishing Financial Liabilities With Financial Instruments

Overall, the one liability that was a major concern was the prepaid operational liability to PROCON. And there's also the matter that PROCON had its liabilities met IN FULL.

So why on earth would GBN.H shares be extinguished when the liabilities have been paid? My guess on that very score is that the judge will decide that there's no reason to assume that the shares will be extinguished at all in lieu of liabilities, since the documentation for the restructuring under the BIA CLEARLY state that creditors were to be paid in full.

Do the shares themselves have encumbrances that the company wishes to extinguish for some reason? And how would the shares be conveyed to the subcontractor if this is not entirely fraudulent since they've already been paid and there are NO LIABILITIES LEFT TO CONSIDER?

And why is it necessary to create a new class of shares at all? The company will see a new board of directors and the trading halt lifted, so why the issuance of shares at all?

http://bit.ly/2a0054D

-F6