Travesty this ever happened. How it happened is even more of a travesty. The icing atop all of it is that not only is it allowed to continue, but it is encouraged and rewarded to do so.
BUT........ it was a FAKE 'conservatorship' justified through fraudulent accounting negating any takeover of shareholder rights. THAT is key! Why wasn't this challenged???
As Hamish Hume pointed out in oral arguments, the conservatorship took all shareholder rights.
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