Ann: Annual Report to shareholders, page-29

I believe the argument is actually opposite to what one might think.
TPG want to keep,the price high, to argue that Clear Creek is their only real asset.
Also there is a $100m safety margin. TPG get their legal right to take possession, the property will be sold by a receiver, for say $137m TPG get their $37m and shareholders get $100m... TPG to provide interim funding to get production happenning. Everybody happy..
Thats a great result for all... And nobody so far is willing to provide the funding except TPG.
so judge throw it out Chapter 11.... And let TPG be the good guys and save the day for all.

the property would be sold as a receivership sale, so a third party would conduct the sale. Not TPG itself.

All sounds good in theory, and Marion keep telling everybody how much it's worth..
which right now is working against them in the chapter 11 process

Another problem is a would be replacement lender used Ryder Scott to do a reserves report... Apparently only got to draft and Clear Creek looked like rubbish according to them... But as it was not complete, and had some supposed glaring inaccuracies it was dismissed by all.

This will drag out long beyond the 1st of December.
marion need emergency funding, to help prepare the property for sale. If the funding doesn't arrive, the wells will be shut in, and water levels will rise, value of the property will be much less.

it will be extremely hard for anybody to lend them money while TPG is trying to take possession.

Unless a new lender takes over immediately from TPG, the best thing for all will be a receivership sale. I think the judge will see it that way too. So brace yourself for TPG taking possession. And the property to be sold by a third party receiver.