Dec 1st ...D Day, page-10

I believe yes but could be wrong....
I think the $2.5M was to be made up of $2M as Superpriority loan and $0.5M paid in shares.
The shares are due to be voted on at the AGM but I believe the $2M has not been approved by the court....
Castlelake in earlier discussions said they would consider $1.2M Superpriority loan...

This is my personal view and could be quite wrong.........

I think what has happenned is the court has rejected Superpriority funding from any third party.
But has also not thrown out Chapter 11..... This is to protect TCS/Castlelake and their lien on Clear Creek

Marion will need to get NON superpriority funding
The chances of this are very low, as the company is in Chapter 11.
The only other option is to find a lender or raise money to pay off Castlelake in full...
Marion has no cash so will struggle to fund the sale process....

Castlelake could fund the sale process with a superpriority loan....
They sort of alluded to the fact that they might......

But if they dont, they could also push to take possession if Marion cannot come up with any further interim funding....

So the court room battles are likely to continue.. and the lawyers will be paid as they do get priority.