This is what worries meWhat Hoffman and the other investors didn’t know is that Platinum, in violation of federal disclosure laws, had been secretly buying up Black Elk bonds through a series of companies it controlled. Through these companies, Platinum controlled about $98 million, or roughly two thirds, of the Black Elk debt, and it used that power to approve the waiver in August 2014. Given its bond-buying spree, Platinum would have captured most of the proceeds from the sale, but it needed the money in the right place—Black Elk’s preferred stock—which would, if you read the whole article its a carbon copy,so in turn anybody pp and the gold bergs put in place have to go. IMHO!