If the current 26 M common shares aren't cancelled and exchanged for the Tier2 notes, there is NO exit financing deal. Read the filing. This is not a bankruptcy smorgasboard where you can just pick and choose the items on the buffet that you want and disregard the rest, skipping on the tab at the end of the meal because you didn't find everything on the table palatable.
C'mon, J.T., you are smarter than that.
Shares get cancelled in most bankruptcies. The exceptions are few and far between. That's just reality, not a delusion. The debt-for-equity swap that cancels the common shares is clearly stated in the original bankruptcy filing with the court. Where do you come up with the idea that this is some last-minute gambit?
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