Yep - we got royally done in. The purchaser was the lender -...

Yep - we got royally done in. The purchaser was the lender - almost smells like a scam for them to get control of these assets on the cheap. Lend the money on commercially unreasonable returns, call the inevitable default, appoint receivers and conduct a sale process knowing full well there will be a paucity of buyers - so that you are left as "last man standing". Bingo you own the assets for a fraction of value.

Watch this space - my prediction is these assets will be sold for double what they "paid" for them inside of 12 months....