Since Gotion and CVI have already converted debt into equity, they would be equity holders at this point, not creditors. This means they would face greater losses compared to their initial debt positions if the company goes bankrupt.
• If the company is liquidated, the equity stakes would likely be wiped out entirely, leading to significant losses.
For Gotion and CVI, who converted debt into shares at €0.8209, the initial debt they held would have had a higher value than the equity they received in return, especially given the current share price of €0.40.
• In the case of bankruptcy, Gotion and CVI may find that the equity they obtained is effectively worthless or severely diluted, given the likely minimal value of Ebusco shares in liquidation.