Under this scenario some of them will lose significant amounts of equity. AB in particular.
While I don't want to raise anyones hopes, I can't see them going down without a fight. Certainly the next 2 - 3 days if it was very close deal being done.
A visit to the WA Supreme Court by the administrators if a counter recapitalisation (By current BOD) looks after the unsecured creditors and employees better could slow things up and buy some time.
The current offer could shaft the unsecured creditors.
Time is the problem here as it's all starting to get very expensive with interest, receiver and administrator fees.
Note: As a Limited Liability company Shareholders are not on the hook for debts to unsecured creditors.
Ann: PLS: Conditional Agreement to Acq. Altura Lithium Operations, page-114
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