dalegI did get your explaination, my example was more detailed...

daleg

I did get your explaination, my example was more detailed in that if a major shareholder (Nexif Pte) were to purchase the debt.

They would be in a position to force a debt for equity swap or terms on the bank loan that would be detrimental to shareholders to force the sale of the business.

I do understand the tie up with the agreement, however i am lookuing at it from a more aggressive buyers perspective.

NB Nexif do have the funding to do so!