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Offshore Bond Holders Are in the Worst Spot the Offshore Equity Holders
The offshore bond holders are probably in the worst spot. It's very rare to see insiders and founders, especially those who were politically connected, losing their stake in re structuring. So think it's the people at the top where, you know, if you asked a hundred thousand average chinese people on the street, what do you think is fair? That would be pretty good, a pretty good indication of who should get paid first.