Sleep,
A.) You assume that the 1st trust deed didn't count on Copper King filing BK the second the notice of sale was filed. I assure you they not only knew they would file BK, but counted on it. As far as most of the lenders are concerned, chapter 11 is progress towards at least partial repatriation, but not in the way you think or want. These guys had two years in default to consult attorneys and come up with a plan. You can bet they will not be caught unaware.
B.) 200 K is small a small amount in comparison to any of the lender participants on my note, and much smaller then any of the lender participants on the 1st and 2nd trust deeds. Maybe you are referring to some of the contractors or unsecured lenders. Anyway, the amount invested bares little relevance. As you are aware position is more important. You are a shareholder by choice, and unfortunately you will bare the consequence. My guess, shareholders will be done. You are still in denial, but when you come to your senses I hope you decide to hold those responsible accountable. Not out of revenge, but because it is the right thing to do.
C.) I think you will find that the lenders are interested in becoming whole if they are able. Many of them are less then optimistic that total repatriation of principal is even possible at this point. Very few of them believe that CPRK can ever become profitable. Even fewer are willing to allow current management a shot at moving forward given the history of dishonesty with CPRK. Especially if it means allowing DIP financing that will place an additional 15 million in front of what has already been lent. You have seen this first hand, and have implied as much in several of your posts. What would you do in their situation?
D.) You are a shareholder. You are a shareholder. You are a shareholder!!! In chapter 11, shareholders lose their asses 9 times out of ten or better. It sucks, I know, but their are really no moves here. I would bet my house on it.
Anyhow, good luck Sleep. I feel for all of the shareholders out there, but it is time to face the facts.
