How do control issues affect the capital structure decision?

Wow, straight out of the capital structure case on Kleen Kar, case 9.

Control would clearly be an issue. There is a danger of loss of control if the company does not use enough debt (through a leveraged buyout), but there is also a danger of loss of control (through bankruptcy) if it uses too much debt. However it is impossible to reach a conclusion as to how control should affect the decision.