not really, buying the debt as well as owning the equity is a typical strategy to de-risk (if tribeca wound up the company their equity position would likely be worth zero) so at least now there is no stress of that.
don't get me wrong though, this is a complete balls up by GXY board to have bought the equity in A40 in the first place. this is what happened when mining executives try and be fund managers. GXY had 400m in the bank and the board couldn't wait to spend it. could have been returned to shareholders, poor corporate governance
