http://www.businessdailyafrica.com/corporate/companies/KQ-seeks-court-backing-in-debt-swap-war-with-banks/4003102-4032514-10kxs5c/index.htmlIf KQ gets a court approval, three banks opposed to the debt-to-equity proposals will be forced to follow their consenting peers and the Treasury down the rabbit hole as they will be deemed to have opted for the shares plus bond option “by default”.
People familiar with the transaction say Equity, Jamii Bora and Ecobank are holding out against the debt conversion plan, arguing that they “were not consulted.”
The three are collectively owed Sh6.4 billion (or just 13 per cent of the outstanding debt).
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope