Ann: Administrators Appointed, page-6

The fact that CAI voluntarily appointed administrators supports the argument that MAH submitted a letter of demand and threatened legal action if unpaid within X days.

If the receiver is to be believed, we had $20M in cash at the end of the June quarter, compared to a cash balance of $8M in prior quarter. Our debt to MAH probably stands around $30M. Fulfilling our obligation to them in full would have made CAI insolvent.

I've mentally written-off my investment but interesting to see how this pans out.