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Lets see if ELD and ELDPA prices rise on this "wonderful" news on recapitalisation and then judge whether it was a good deal for existing holders of ords and hybrids. I suspect it was a very bad outcome especially for the ordinary holders. As for the hybrids maybe you will get your money back but maybe not. Actually I am not entirely sure whether this deal saves the company as you say because at the moment all businesses are loss making and they lost $400m plus last year. MIS continues to be a black hole, they have sold most of the good assets and the rural cycle is all over the place....so no I am not sure....if you wanted any better guide to surety you should look at what new investors are prepared to pay to recap the company. They are paying 15c versus a last price of 39c which speaks volumes about the value that existed in the company......