Ann: Market Update on KBL Debt, page-26

w27, I understand that is how it would work if someone was just owed money, but this money is specifically secured against the assets. So they can claim the asset.

normally with a home loan there are clauses to protect the consumer, i.e. the bank takes the home, sells it and must return any excess proceeds.

I believe the assets are forfeit if the loan cannot be repaid, kdr may not have to sell them and a receiver wouldn't be involved.