Re: How I see it
If I were the banks I would declare the loan in default, take over the assets assuming they are worth anything, find an actual broker and sell the block cutting out current shareholders and management. At this point I think that's the only way they get paid back. I don't think Mike can get enough money for the block to pay them back and to continue to develop the block in ANY fashion. I just don't. If the lenders get 100 million for the block without giving shareholders a dime, at least they are made whole. JMHO