I'm not sure. But these T-trades the past week or so could be a sign that selling is coming from China.
The debt has to be at least 6 months old. That's one. I think the company will make damn sure that it is. In this case the company could provide the service of having the shares sold in the markets so that the Chinese parties never physically receive the shares.
If the debt is not a security (promisory note, debt note) etc. then it could still be illegal what they are doing. You can't just settle any kind of debt IMO. I have pointed this out a couple of times.
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