Suspicious, page-3

Company gets nothing , shareholder gets to become a creditor and rank before shareholders.

The company having his shares wouldn’t offer any extra security on its loans as any lender would have had security over all the company assets.

Hopefully the administrator will treat it as a voidable transaction however something tells me that it will be allowed as they will use the excuse that it will cost too much in legal fees to fight the transaction and so he will get to vote as a creditor and hopefully sway the votes to favour himself and the rest of the crew , most likely by voting for a DOCA that they will benefit mostly from