The judge did not use the evidence that the financial information was adequate or not in deciding whether to lift the orders.
Perhaps because he knew the bondholders were playing games, he very wisely based his ruling on another point of reasoning, because IFCA has since shown it does indeed have the funds (otherwise why would it say it was still interested in Chemeq - for a joke?) thus avoiding being accused of making a serious error of judgment.
He used the argument that the bondholders had $60m at risk and IFCA did not have any cash at risk.
So what are you so sore about?
CMQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held