What would Qatar do?
From a statement written b y GM bondholder's representatives.
We are deeply concerned with today’s decision by GM and the auto task force to offer only a small, inequitable percentage of stock to its bondholders in exchange for their bonds.
We believe the offer to be a blatant disregard of fairness for the bondholders who have funded this company and amounts to using taxpayer money to show political favoritism of one creditor over another.
Today’s posturing makes it clear that the company and the auto task force would rather discount the thousands of individual investors and retirees who own GM bonds than undergo earnest negotiations.
The current offer is neither reasonable nor adequate. Both the union and the bondholders hold unsecured claims against GM. However, the union’s VEBA would receive a 50 percent recovery in cash and a 39 percent stake in a new GM for its $20 billion in obligations; while bondholders, who own more than $27 billion in GM bonds and have the same legal rights as the unions, would only receive a mere 10 percent of the restructured company and essentially no cash
And article 5 of the Qatar Labour Law:
The sums due to the worker or his heirs under this law shall have priority over all movables and immovable properties of the employer and shall have a privilege over all other debts including the debts due to the State.
Option1307, I guess that means workers rights in Qatar rank ahead of investors rights. I'll put that in my model "big" Government.