EZ....Fung knew exactly what MacQuarie was going to do. If Fung was such a financial genius he would have come up with a more shareholder friendly method of financing. The fact that they orchestrated this financing to coincide with the Chinese "deal" news tells me two things:

1. Fung knew that the Chinese "deal" was likely to fail

2. This was the last trip to the financing well....arbitration will be financed by a deal with the bondholders. No one else will buy into this clown show.

Last June's financing was Bay Street sleaze at it's finest. Fung and his cronies never had any skin in the game and could care less about shareholder value.