the management is cheaping shareholders and noteholders all the time.
they talked about debt-equity swap and dillution. now, the revealed plan is totally opposite to what they talked about before.
many shareholders and noteholders got caught because they thought the management could do to save the company by debt-equity swap.
it is unbelievable that such unmoral thing can happen.
BNB
babcock & brown limited
bbipl vs bnb, page-13
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