"However the creditors presumably will still want payment but they stand in the queue behind HNC now that it has been established their $10M debt has been secured and R&M managed by E.Y."
How do we know the HNC US$10 Million loan was secured. The announcement on Wednesday morning does not say that explicitly and I can find no mention in any previous releases or company announcements that properly discloses that fact either.
So where has it been established. I know that seems like the most obvious conclusion and it may well prove to be true.
But I can find no evidence that properly discloses or establishes that fact at this point in time...
If you know of some such evidence please advise.
CMR Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held