Covid19 Bankruptcy Thread

[jwslam]

I missed this article.

https://calgary.ctvnews.ca/shakers-f...nomy-1.4890218

[flipstah]

Have we had a closure where the place didn't suck?

[adam c]

If a place closes normally vs using Covid as an reason/excuse to close, is there a difference in severance pay required?

[Tik-Tok]

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If a place closes normally vs using Covid as an reason/excuse to close, is there a difference in severance pay required?

Nope, but I guarantee you a lot of them will scam some CEWS money while closing their doors.

[adam c]

Let’s say they did a layoff in March or April then decided today to close permanently, since the staff are on a layoff would they be entitled to severance?

[sabad66]

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Let’s say they did a layoff in March or April then decided today to close permanently, since the staff are on a layoff would they be entitled to severance?

Pretty sure the answer is yes because they are still laid off.

Whether the company has money left to pay the severances is another issue...not sure what happens in that case or how high up on the list employee severance is when bankruptcy creditors are paying out.

[Disoblige]

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Have we had a closure where the place didn't suck?

That's like asking if there ever has been a completely happy couple who divorced.

[Xtrema]

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Whether the company has money left to pay the severances is another issue...not sure what happens in that case or how high up on the list employee severance is when bankruptcy creditors are paying out.

Still a creditor, probably still low on totem list like when Sears packed it up in 2017.

I think Nortel employee took 10 years to get something from the bankruptcy proceeding as well.

EDIT:
https://leckerslaw.com/will-bankrupt...-entitlements/

Seems like you now can go after directors/executives who got a golden handshake/parachute during a bankruptcy. Interesting.

[killramos]

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Probably a worthy update. Hertz seems to think there is market demand for its shares right now and are planning an offering to pay down indebtedness.

Sounds like a reach to me.

Update to the Update.

SEC says “yea fucking right” to Hertz selling worthless shares on the public market

[ExtraSlow]

Why do they hate capitalism? Fascists.

[killramos]

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Why do they hate capitalism? Fascists.

LET THE MARKET DECIDE

Amirit?

[ExtraSlow]

Caveat emptor, audentes fortuna iuvat, carpe vinum.

[msommers]

LOL if people want to flirt with bankruptcy stocks go ahead and let them

[Xtrema]

Win/Win.

If company doesn't fail, you win.

If company does fail, Feds will buy bonds and bail it out, you win.

[ThePenIsMightier]

I'm hearing Cycle Works Foothills is done tomorrow.

Not a Honda dealer, but so close.

[SkiBum5.0]

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I'm hearing Cycle Works Foothills is done tomorrow.

Not a Honda dealer, but so close.

That’s unfortunate if true. Closest service stop for me

[gmc72]

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I'm hearing Cycle Works Foothills is done tomorrow.

Not a Honda dealer, but so close.

I read that on Facebook the other day. Sad.

[cam_wmh]

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The two Starbucks in Suncor were still always packed though so I can see why, though idk why one wouldnt be in BVS instead.

uh there's one in BVS too haha.

[1pac]

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I'm hearing Cycle Works Foothills is done tomorrow.

That's too bad - I would have thought cycle shops would be doing relatively well right now.

[pheoxs]

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uh there's one in BVS too haha.

derp X_X