Management and Advisor's Incentives, page-5

As the major noteholder, if blackrock had wanted to do a deal with or ever again be involved with Frank, all they needed to do was give Goldman a call. The fact they didn't suggests that they don't want to deal with him, meaning that a successful spill would no doubt lead to the notes being accelerated and shareholders ending up with nothing.

I suppose that given that's the most likely outcome anyway, then shareholders might take the view they have nothing to lose, but without a separate funding package to replace the senior (and super senior, and put options finance) then the motivation for this quixotic putsch would seem to be unrelated to shareholders' interests.

So do you have a funding package or not?