At the time I was rather preoccupied with the pandemic and family, so don't recall the details.
I would like to see some reliable sources of reports that give an overview of the sake.
Here's the webpage on the matter. Alvarez & Marshall is the law firm appointed by the BC courts to oversee MEC's reorganization.
https://www.alvarezandmarsal.com/MEC
Under the section affidavits, if you dig into one of the early ones from around the time of sale, you'll see that the sale agreement with Kingswood is listed as an exhibit, but the exhibits have been redacted. You could try contacting the law firm and requesting an unredacted copy, or you could try to request it from the court directly as theoretically it should be public material.
I couldn't find any reporting on the agreement details in any news articles, and there are no reliable sources for even the value of the sale. I have to assume the journalists were not successful at accessing the agreement. Not really sure what's going on, and now my time wasted on this matter has come to an end.
It would have gone like this: "Hello, we are an asset management company called Kingswood and we would like to acquire MEC out of receivership. Following the sale, we would like to engage the current MEC board members for a period of two years to oversee the transition to new ownership. The compensation for the two year engagement is X million dollars. What are the thoughts of the current MEC board members regarding this proposal?"
MEC board members' reply: "X million each or X million together? And where do we sign?"
Fully legal. And it won't be in the sale agreement. MEC is now a private company and its dealings are a private matter. They can hire consultants for however much they want.