northlands restructuring I put to you that something like this happened in the 90's to Hurricane Hydrocarbons. It collapsed from 15.00 to 00.40 and with a change of CEO and a creditor given 30% of the company it was resurected without a rollback and went to 6.00 within a year and paid a 3.00 dividend!
The name was changed to Petrokazakhstan and went to 55.00 per share before being taken out by the Chinese. The board had the intestinal fortitude to change the CEO and take some hard calls but it was also due to the courts in Canada seeing a clear path to liquidity and the bondholders were told to take a breather and let the resturcture unfold.
Tough calls ..risky for all but I for one would be glad to dive into a management roll if there was a transparent Swedish court system.