Interesting news from KBC today. Their lender extended an expired loan, but requires a $1.25m payment by 31 December. They had $23k in the bank last time I checked. Makes the play to try and default MEL look like a move of desperation.
To top it off, Nicholas Bolton is seemingly staring down the barrel of bankruptcy. https://www.copyright link/rear-window/magellan-agitator-nick-bolton-fights-bankruptcy-notice-20231129-p5enpf
Will be interesting to see how this plays out - but does anyone have experience with companies that have loaned money from insolvent companies?
Ann: KBC: Metgasco Ltd Loan, page-57
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