BCE Sweats it Out

BCE Enterprises (BCE) was in court yesterday along with the supposedly aggrieved bond holders. The Supreme Court justices seemed ready for the lawyers and closely questioned all involved. A decision is reserved and will probably be released later this week. My bet is that it will be after market close on Friday. This will allow the market to digest the news over the weekend Bar B Q.

My spies tell me to pay attention to how the justices reacted to the original non inclusion of clauses relating to debt to equity and take over provisions. They did not miss the fact that what is normally included in other bond deals was specifically not included in this one. The bondholders agreed to a scenario that allowed these events. The Justices may have connected those dots.
Therefore the call should be in favour of the deal going down.