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.
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