Ann: GXY: Alita Senior Secured Debt Facility Repaid by Adminis, page-46

How A40 was able to pay off Galaxy before FIRB approval was received for the funds provided by this Cayman Island entity is curious.

In the event that FIRB block the transaction, hence the break fee is non-payable. What happens to the funds/debt CHE provided to pay back GXY ?

Does CHE then become a secured creditor ? So what proposals can a secured creditor not cleared by FIRB put forward ?

CHE stand to lose a lot of money here I think.