That is not correct. CDEX was allowed to continue to operate DURING the BK. DEBTOR IN POSSESSION. JB assured the court that he had at least three IG4 ready to sell, and in fact had buyers lined up, nearly a year ago.
The LUBBOCK/PEMCO LLC bunch had a condition precedent before they would forward the money. They had to be the only creditors left standing when the smoke cleared. ERGO CDEX continues to operate only because the BK DID HAPPEN.
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