the deal wrote:VituVingiSana wrote:NIC-CBA and Equity are going to have to impair 5bn+ each for their "investment" in KQ!
The smart guys were the local subsidiaries of foreign banks. They don't seem to have unsecured exposure to KQ.
It won't happen ...just wait and see...a deal will be brokered...
Given the banks were coerced into the Debt:Equity Conversion, there may already be a deal in place.
I do not blame the banks. They aren't the ones who pissed away the money. They deserve to be repaid given the coercion. Anyone who voluntarily bought an ownership stake in KQ should follow the fortunes of their investment decision.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett