the next step, page-24

BTF

"The unspoken possibility here is there is some family fallout (of a personal nature), whereby Monarch are basically pulling the rug out from PNO before the rest of the vultures circle, JP be damned."

As far as I am aware the con notes are held by JP's brother. There is no love lost between them, I believe, and the stat demand has arisen due to financial difficulties being faced by the sibling. Even so, however acrimonious the relationship may be, it makes no sense to issue the demand at this stage as the chance of getting anything is very slim, since the notes are unsecured and PNO will need to go into VA. The only thing I can think of is that the notes have been used as security on another debt held by the holder. In that case, the third party creditor has called in the debt, forcing liquidation of his "assets", the con notes being considered an asset. Just my take on things but the mystery deepens.