Hong Yuan Holding Group (HGYN)

[Hi_Lo]

"The 8K offers liens to ProCap Funding that Cereplast cannot give because of the encompassing liens to Horizon. Plus, Cereplast cannot give "first priority security interest" to ProCap when Horizon has first priority on everything."

I don't know if that's correct:

http://business-finance-restructuring.weil.com/dip-financing/roll-up-roll-up-read-all-about-it/

"During our recent credit winter, debtors have been forced to look even further to obtain credit, relying on section 364(d) to obtain authority for DIP lenders to provide credit ranking above or equal to all other secured debt. Such credit is permitted by the Bankruptcy Code where no other credit is available"

I'm not saying it's a done deal. It's up to the judge whether it's accepted or not.