Whether I agree or not is another matter but I believe the rationale is they are judged to have negative value presently and no future value under current circumstances I.e. Imminent liquidation with no prospect of rescue funding. It is recognised that they may have future value if more capital is injected and liquidation us avoided. However no one would inject capital with such a diluted share of future profits, thus the compulsory acquisition.
Ann: Supreme Court Approves s4444GA Transfer, page-39
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