Poor Halbert raised a moron. SEC already has its hook set on Ryan. Now the creditors are coming.
Pursuant to the Plan Support Agreement, the Debtor’s largest secured creditor, Empery, as agent for MP Collateral, agreed to cap its prepetition secured claim for the Empery Loans at $18 million and carveout any recovery above $12 million for the benefit of general unsecured creditors, which proceeds will be used in part to establish a litigation trust to pursue the estate’s claims against the Debtor’s current and former directors and officers, including Ryan Drexler.
Now wait for the PPP fraud announcement....it's coming.
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