It is fair to say that a debt for debt swap is in the best interests of MMR SH but that doesn't necessarily mean that it is in the best interests of Advent SH.
Problem for MMR is, the debt owed by Advent to MMR is a documented loan with an agreed repayment method and timeframe, and Advent is not in breach of that loan agreement. If it is not in Advent's best interests to partially "repay" that loan now, it is not obliged to do so.
The debt owed by MMR to Advent was the result of alleged "misappropriation" by MMR Directors (not personally, but on behalf off MMR), a very different thing.
If MMR was liquid, paying cash to Advent would appear to be the best option, but it has no cash, so the share issue appears the only alternative.
MMR Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
(20min delay)