Secure Point Technologies Inc (fka IMSCQ)

[int10a]

In reading further, looks like normally the lenders get paid right away to stop any further interest from accumulating. So the equity committee is protesting Platinum getting paid right away as there is great concern that any money paid Platinum will disappear and also asking the interest rate be reduced from the date of the bankruptcy filing. It is unclear how soon any other money normally gets paid such as unsecured creditors, CIC, etc.

Assuming the sale proceeds get paid to the company and then the company pays its creditors and other obligations, it looks like some protest would have to be made to get the court to order an injunction from paying the CIC payment.