(02-05-2017, 11:49 PM)Boon Wrote: By subjecting unitholders to such a deal, TM is effectively putting its interest above that of unitholders, IMO.I wonder how SIC will rule on this. I was hoping that they will either not approve the whitewash waiver or at least ask for a 75% approval level. Would they be smart enough to see through the fog?

CY09
A rights issue will be the last on TM's list because FSL Holdings got no money to pony up and will lose controlling power..... And why can't they sell the ships? Because then Navios won't pay them USD20 million (plus all the premium to be paid for the asset management company)... I suspect the USD20million is for them to retain all the ships AND to CONvince er I mean, persuade the non controlling unit holders to subsidise Navios.