Secure Point Technologies Inc (fka IMSCQ)

[int10a]

Is there any precedent for a lender being forced to accept the principal and no interest payments because they are under investigation by the feds? It would be great if that is the case. I think at this point it is up to the bankruptcy court to decide that, and maybe this is why they filed to gain some leverage over PP. You are right, there's more than enough to pay off the debt from the $117M so that is not the reason they filed. They needed protection from Platinum seizing assets after October 31 when they would be in default, and needed operating capital which that loan for $5.7M through the bankruptcy court provides, so that's probably why they filed. It also seems like an auction gets set up where bids over L3's $117M may be solicited