Not sure how there cannont be any value left if they are payiong sign on bonuses to the exec's who are your employees as shareholders / noteholders.
Might be my suspisious nature, but I think they have gone for the low ball offer so that noteholders will go for admin.
Is there an advantage for them in having this happen?
I think something will come out later showing that this was what they actually wanted to occur.
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babcock & brown limited
Ann: Notice of Meeting of Noteholders , page-19
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