Canwest shareholders also offering unsecured 9% bond holders share in company: Canwest offering a better deal than Godfrey offer of .45 cents on the dollar in new equity
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[Canada's flagship newspapers sold in a fraud, have no right to rig Canada's elections, and manipulate economic disclosure to steal from Canada.]
Quote, "The AHC Bid contemplates the acquisition of substantially all of the financial and operating assets of the LP Entities and the shares of National Post Inc. for an effective purchase price of approximately $1.1 billion including $950 million in cash funding. The proceeds from the AHC Bid will allow for a full pay-out of the approximately $925 million debt owed by the LP Entities to its senior secured lenders. The bid also maintains all existing newspaper operations and will provide continuing employment to all existing full time employees and substantially all part time employees of the LP Entities. In addition, the new company will maintain all employee pension and benefit plans.
The AHC bid also provides unsecured creditors with cash or shares on a pro rata basis up to 45% of the equity in the new company. All creditors with claims of less than $1,000 will receive a cash payment for the full value of their proven claim. As announced on April 12, 2010, the LP Entities claims process will proceed and unsecured creditors of the LP Entities with proven claims of $1,000 or more will be able to elect to receive a pro rata distribution of shares in the entity that will purchase the assets of the LP Entities. "
