With respect back at you, my point is a DOCA = peanuts paid by offeror
Why would offeror pay market price something that is in administration?
Generally peanuts are in the best interests of creditors rather than nothing and an administrator knows this and will generally recommend the offer BUT it is the secured largest creditor that has final say on whether peanuts are acceptable to him
Ann: $4.7m Critical Minerals Funding Agreement Signed, page-24
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