I see two ways pls can play this dirty or clean..
Pls can be dirty and purchase the debt and enforce there rights on the asset to try and score ajm for cheap. The cons of this approach will be that they still have to go down the administration path leaving higher bids open on the table and the chance for share holders to fight administration reports in court which is a lengthy costly process.
As this happened with galaxy buying alita's debt to have a Chinese mob offer high higher loan which are now secured creditors.
Or pls could play it clean with $230mill towards the debt for the sercured creditors and a script offer to allow ajm share holders to accept the deal bypassing the administration process.
We've been saying good neighbours for many years now which is it going to be??
Gltah cheers
Ann: Trading Halt, page-136
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