I think there's more than on set of eyes contemplating that very...

I think there's more than on set of eyes contemplating that very scenario.

Whoever eventually ends up with LJ will need the financial resources and willingness to wear the C&M costs and accept the rehab liability for a significant period of time (beyond that endured under POS ownership) on a punt for a material value-add payoff at some point in the distant future. With those dynamics in mind I think the risk:reward hurdle will be such that it will only change hands when the liquidator is involved (i.e. liquidation pricing, as you alluded to).