Difficult call for other creditors as it stands, what HNC are proposing is funding on secured basis against CMR assets.
HNC get new funding back first before any flow to others regardless if plant works or not, risk for other creditors arises if plant is a dud as money spent will come out of their available funds from liquidation, another roll of the dice for them.
What VA has to demonstrate to creditors is how DOCA is a better proposition than liquidation, if liquidation shows nil return to unsecured creditors then nothing to lose but if they currently have X cents in the dollar on the table they are risking this to go along with DOCA.
R&M will do as he is told by HNC as they put him there and he will follow orders, his primary interest is to get back secured debt only, rest of funds handed over to VA after he leaves the assignment.
Some agreement should be forthcoming, length taken shows not everyone's interests are aligned otherwise a meeting would have been called by now.
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Not Held
