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I really dont know what to think about this announcement. For the long term I see it as a good thing because if the lenders are on board by being shareholders, then obviously they wont seek to liquidate.

The other good thing is that at least assets are not being fire saled.

Although this may be positive for the long term, lets be honest we would all like to see something positive for the short term. And I just cannot see anything positive in the short term. The banks have all the power in this situation, and I am sure that the deal that is struck will be obviously tilted in there favour.

The only question to be answered now is how much of a discount they will be given.