Cal-Bay International Inc (CBYI)

[mordicai]

If Cal Bay had the ability to re finance this, the normal thing would have been to delay the proceeding with a motion for extension of time to file an answer or even have their lawyer call up the other side and tell them they were going to refinance. Letting the order go through just makes it all the more difficult, if not impossible, to refinance. It could be there was something wrong with the charlotte property i.e. flood area, environmental, wetlands which was found out about only after the purchase. My bet, which is pure speculation , is that cal bay's sole purpose was to take distress properties off of Pawson's business associates hands in exchange for some kind of quid pro quo or future understanding. jmho. Otherwise , a chapter 11 would have been filed to bide time to refinance everything. But as I said in the past, Pawson doesn't want any court to have jurisdiction and examine the transactions. When crooks steal a car they burn it. No difference here.