Well Played AZZ, page-13

I am gobsmacked! I have just read the ABW report. the notes are worth nothing & certainly the shareholders have no hope of regaining anything ( that was probably a given) How was it possible that JC was buying back shares, presenting 250M sale agreements & trying to deals with noteholders to prolong his salary when the assets were essentially worthless. He must have known this! The company was either trading insolvently or at the very least the board was misleading the market in their dealings. This can not simply be left to die quietly.
FIIG securities raised 19 million into the notes, ABW had 8% of the notes & it looks like they are just going to walk away. How do people get to do this and then just walk on to the next deal? Where will JC raise his head or has he made enough along the way to hide under a rock