when is debt good?

I bought into cfe several months ago thinking it was a safe investment with no debt and the chance of regular dividends. However with the talk of getting involved with Griffin, I am getting a bit disenchanted as that would mean we take on one helluva amount of debt, something I have to steer clear of in my own life, and in my opinion is not the original ideas expressed or intended by Tony Sage. What do others think about this. You may see that I am a very small investor who has lost a fair bit over the past 2 years so I may agonise over something that others may take in their stride...Lormac