ady debt

doesn't ADY have $10.8m falling due on the 30th of September?
10.8m to Hawkswood and a 7m facility to Cornell which has a interest and principal payment due on the 30th
With Hawkswood in liquidation a settlement other then cash would be unlikely to satisfy the liquidators and unless paid they would most likely initiate a winding up action against ADY
Cornell is a seperate matter and would think a covenant of the loan would be any wind up notice could trigger their own action and repayment of debt in full.
In the absence of the $40m ADY are trying to secure ADY are now in a difficult position and the Supreme Courts decision regarding the Hawkswood loan is due on the 26th just 4 days before ADY state it is due and almost 4 months later then Hawkswood claim,if this ruling goes in favor of Hawkswood perhaps this triggers quite heavy penalty interest charges which would require ADY to find even more money and immediately.
Not to mention the YA Global debt due on October 30th and the $200m debt facility ADY are trying to negotiate with Merril Lynch who have their own unique liquidity issues atm.
The sell off to recent levels could indicate the ruling has gone against ADY although this is highly speculative but the recent sell down has been aggressive and a substantial fall which usually is an indicator matters are not all they appear to be.
and