To fair to PB I think he gave Vald Saudi option and it looks some deal will eventuate. That way you see Vald staking his claim otherwise SRN can't pay his private company. I do think Vald will come out winner either way but without PB I doubt Vald I don't think could progress asset to current stage.
Ann: Debt for Equity Swap with Mutual Holdings Pty Ltd, page-48
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