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Why would shareholders approve Preston's 'Second Restructuring Plan', which included a transfer of 95% of the equity in Bulong Operations Pty Ltd to the noteholders?

Why would shareholders approve Preston's 'Second Restructuring Plan', which included a transfer of 95% of the equity in Bulong Operations Pty Ltd to the noteholders? Why would the noteholders approve Preston's 'Second Restructuring Plan', which included effectively converting the notes into equity and a transfer of 95% of the equity in Bulong Operations to them?

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