alinta mulls debt for equity swap, page-8

Re Plan C

The Hedge Funds have the financial fire power to do a recap / debt for equity swap etc.

If history is anything to go by, they will try and buy off management (a la Brookfield and BBI), scare shareholders ("the world is ending", "you will get nothing if you don't agree" - see BBI again), convert debt (dilute shareholders to nothing) and then recap - all with the help of an "independent" expert report written by Grant Samuel.

Equity holders are punting on management's integrity not to sell them short and recommend a terrible deal put to them by the hedge funds.