Ann: Noteholder Notice of Meeting, page-83

Well, your example would indicate the lack of due diligence conducted by AZZ management on the Buyer - no?!?

I know when my practice advises on takeovers, we conduct a full diligence on the ability of the buyer to fully complete their end of the deal - ie. they got the MONEY to pay!!!

If AZZ management Chose Not to conduct a full diligence on the buyer, then that is a reflection of bad decision making on AZZ management, is it not?!?

After all, these things are NOT Cheap - you have to engage consultants/advisers, bankers, accountants and lawyers - each charging anywhere from $600 per hour to $1,000 per hour.

Its not like you just fill in an application for a mortgage loan - is it?!?

This was suppose to be a $250M USD deal (actually two deals, more money for lawyers!!!).