intermoco rescue package..., page-55

C Group is still in a very powerful position and will negotiate a good outcome for himself. He is the single largest creditor with $390k con notes which is debt not equity like us. So he votes at creditor meeting and can block the acceptance of an asset sale. Though without an alternative he probably wouldn't. But means Meehan must give him something for his vote.

If instead of asset sale, it went to a scheme of arrangement then it needs shareholder approval. And it isnt the normal 50% majority. It is a special resolution of 75%. He can virtually single handedly block it at equity and debt level. So he is a powerful pieve of the puzzle. not to mention he has deep pockets and could bail us out. I'd say the new entity will involve him at some point as funder.