| So the UK can't do its own thing, Could it with permission from the DIP lender? It's my recollection that they have a large payment due ,I want to say in April, of 130 million to the Chinese, I'm guessing that has a lot to do with the specific mention of "Octobouy" in the filing.I'm certainly no expert here,but what if they were able to swing a deal,lease back, that management had been talking about? Would it be in the DIP lenders interest just to let the Chinese have it. My understanding was such a deal would pay for its completion. That and the sell down of their interest in Cheviot which would seem to be more valuable with a completed Octobouy, and a project that was still somewhat on schedule,They may not get as good as a deal, but it seems like it would surely be better than the alternative.If they got approval to pursue these deals, it doesn't seem like they would incur any cost to the BK estate. It seems that it would increase the value of the company overall? So, what would be the possible reasons for the DIP lender to object? I'm sure there are some. |
