I could write a book on that one.
The critical factor was Altura met milestone 2 with the Loan note holders but were asked to delay the announcement.
What their lawyers failed to do was legally change the date to coincide with the announcement date so legally they had passed the date for milestone 2.
The only reason a LNH would do this is because they knew they had a better offer sitting in the wings, prearranged but legally not possible unless Altura went down.
The prearrangement is the dodgy bit.
General Discussion, page-1217
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