It was said that MBN would "secure the company’s operating...

It was said that MBN would "secure the company’s operating future" after its first 'debt for equity swap' in 2014.

1. Its shareholders in this recapitalization lost 98% ub 2014 while its creditors cheered for the swap.
2. Its creditors believed they "secure the company's operating future for their new shares
3. The desperate shareholders in class action could not get anything but paid for their legal expenses.
4. Ridiculously in 2015, a little bit more than a year later, MBN with the secured "company's operating future" dropped into even some shareholders believe it should have not been possible.
5. Some shareholders have got into the second class action but so far nothing happens. The crashed nickel price scrared our directors but these shareholders don't buy it.
6. No enough creditors supported its second equity swap with so low nickel price and then it has slided into RA first time.

Is it bad enough shown above? A lot of us don't think so. They find the doc about the first swap even it could not do any help in MBN's new VA/RA. The shareholders have lost their control unless they are secured creditors. The creditors would try to get their principle and interest first and then the money from their shareholding.

Could the creditors get the money to cover their principle and interest? Could the creditors get the extra for the shareholdings? Could you believe the creditors would hold the mines after 3 years? God knows but not you. It is a very sure matter!