Agree with Balto. In the last annoucement, it mentioned security holders vote MAY be required only on BNB loan restructuring. No mentioned of recap or debt for equity swap
I suspect the vote is for the 400m to turn into convertible bonds with outrageous interest rate 10-12% with high payout penalty ... similar to the RBS-led consortium proposal for BBI. It looks like the RBS-led consortium is also the holder of the 400m BNB loan.
