Does any one know whether Blackrock has forced a default on any companies before and how did that go? Would it be a total wipe out of existing shareholders wealth or would it be more like forcing the company management out and installing some one who would be more reasonable (in which case there could be some salvaging). I suppose why would Blackrock make it more complicated when they can force liquidation and make more profit? .. 15% per annum interest sounds more like predatory lending..
Regarding further CR, unfortunately there would always be takers if there is enough discount to trading sp. It is just the existing share holders who get diluted to extinction
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-5
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