Hi John, well I do agree that the put holder will still own the asset but if memory serves its a 2014 plantation so trees of 3 years old. Not really worth much if that asset isnt continually maintained. Certainly not worth anywhere near 34mil.
As far as continuing as a going concern if funds are there the bondholder gets 14mil of available cash 1st Aug with some potential of continued survival and possible revenue to Sept. I cant see much difference for them forcing VA now or 3/4 months down the track.
GLTAH imo
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