Chinese Ni Cartel is Responding, page-3

As indicated in the restructure document, there are 2 groups of note holders, the substantial holders who are also convertible note holders except for Lord Ablett, are the Ad-hoc Group and the others.

This other group doesn't have any substantial note holders (proved by their non-existence initial substantial holder disclosure to ASX) and swapped the debt for 29% of 877M shares or 263M shares, the Ad-hoc Group also got 50M shares for the convertible loan as a fee and also swapped the debt for 69% of 877M shares or 605M so they have 655M shares but they sold 50M share and now have 605M (as indicated by the disclosure). You should read the restructure document........and take into account the interest that MBN has already paid for that initial 395M USD unsecure loan, upfront and fee for the 60M USD cash injection and the 115M USD convertible note loan deal, you might discover something!!!!! I have these convertible note holders with 128M USD of their initial investment which is still a lot of money to loss, especially for Lord Ablett who didn't even take up the convertible note option and have 28M USD to loss.

http://www.kordamentha.com/creditor-information/australia/122