lleap2,
I am not condoning that the lenders try and derail the efforts of the company here. But lets be honest, you also can't expect a lender to have the same attitude as a shareholder. Many of the shareholders have had a chance to average down on their investment and are hoping for a 10x, 20x, 50x, or whatever, payoff. But the shareholder can also get out at anytime by selling their shares and at least recoup some of their initial investment.
A lender who stands pat stands to lose everything they put in if this does not work out. The difference here is that they can't average down their loan (but they could buy some shares and sort of average down that way), and if it all works out they will probably be lucky to get a 1.5x or 2x payout. They only way they have right now to try and limit their potential losses is to try and get their loan secured or fight for any money that comes into the company. If you have faith in the company you let the company use the money, and if you don't have faith in the company you try and get your hands on some or all of it.
So both parties share a similar risk of losing most or all of their investments, but the shareholders have the carrot of a very large payout in front of them.
SO I WOULD LIKE TO PROPOSE: That we all agree to disagree on this topic. I feel like there have been way too many posts of shareholders arguing with lenders today. Let's just live with the fact that we have different points of view and they will not be settled by anything other than the company proving to be sucessful or not.
FFF the Mediator
EDIT: I feel that we will see which way the company is going within the next few weeks as the mill gets restarted, the stop sign is removed, and hopefully some financing is received. And it will take a lot longer than that for any legal actions to be acted upon. So let's all just hope that the company makes some significant strides in March and we can all put this behind us!
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