SP & China $5M Convertible Note, page-63

I am no expert, but, why wouldn't Wafin, Noble and Hanlong call for repayment in full of their Notes when they are due and payable, knowing full well that SDL can't pay up. They Bankrupt the company get the other shareholders (Us) out of the way, take the asset and all the work done until now and divey it up amongst themselves. They end up with it all and we end up with nothing. Ala Nexus.

Not sure if it could go down like this, but will do some research and check it out. Any thoughts?