I cannot see the deal being held up at all. The bondholders have asked for redemption of their bonds and that is what they have been offered. They would have to get Court approval to vary that. I don't like their chances.
The bondholders were perhaps expecting to put the company into liquidation through the device of inability to pay back the bonds. I don't see why the Court would permit them to change their mind just because they have been outwitted.
Associated costs and interest, perhaps another mil out of the additional $15m capital injection, can be paid too, so that is not a sticking point.
The whole 40-page offer document is in the public domain. Worth reading before speculating here.
CMQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
