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Monday, February 17, 2014 11:41:43 AM
If Scheer does have a new Financier that money would need to be placed with the Trustee in full so that Horizon can be paid off immediately.
No more 'we expect', 'we anticipate', 'we hope', 'we believe', etcetera. They pay off Horizon immediately or the Judge will be compelled to honor whatever Horizon demands.
A fair and reasonable question would be, why go Chapter 11 if indeed Cereplast had a new Financier arranged? Cereplast could have simply paid off the Horizon loan with the new loan with no need for an insolvency filing. Something appears amiss to me.
To bite the worm of incite is to bite the HOOK of the antagonist . They win .
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