To be fair there is a real chance that all the complaints from the Quantum note holders is because they were sold products they did not understand. Like that it will take 5 years to build this mine.
So the big question is if they renegotiate the contract and cancel the December payment, will they actually pay back the note holder who subscribed to that December note?
It seems like they are reluctant to do that as it will potentially expose the cash shortfall on Quantum's side. Maybe there is a more innocent explanation like the shariah law thing is real. But they've opened the bank accounts so it's really no longer an excuse, even if it was not a very plausible one in the first place.
Ann: Request for Extension of Voluntary Suspension, page-130
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