If they are successful against Watchstone (which is highly unlikely), the spoils will go to those who own the company. Right now that is Anchorage. They can legally take the first 800m or so in anything that does come back to SGH as this is the approx face value of debt they own.
They wouldn't be very good distressed debt investors if they let all this 'easy money' flow to the bagholders now would they.
If they are successful against Watchstone (which is highly...
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