htran7528,the noteholders definately have some bargaining power...

htran7528,

the noteholders definately have some bargaining power in that their notes are already convertible at a horribly diluting formula. The other positive in my mind is thaqt they are held mostly by retail so it'll be hard for them to negotiate meaningfully to them (I guess the trustee is who they deal with) and maybe there's some moral hazard shyte there (who knows).

I hold the notes and havn't been invited to any meetings or got any correspondence so no idea how they get treated in all this... It is alos only 400mm out of the 8bn total so 5% which is measley. maybe they just get rid of the conversion and leave them as bonds maturing in 2015?

Looking forward to more clarity next week (doubt we get it on the notes though)