I don't know why this surprises you or upsets him he now owns the debt the debt is not paid he can force the sale of assets or take the bid him self "reserve bid set" or lowest bid he has that right as the debt holder.
By now the company has spent the money raised the question is on what have they spent that capital on and this is what the courts will look at and should they find he spent it on giving his son a job or close friend the courts will be looking at this it is often why one shouldn't hire family then there is kick backs from associates that are tougher to asses and then there is him kicking back money on an over paid asset or just bad asset allocation a building on land were the land has no value except to a gas company that doesn't need exposure that can be out in the middle of gods country. Well you get my point these guys can come up creative ways of getting things for nothing and it isn't always easy for the courts to see the fraud.
Take example he could dig a hole find something and leave it at that under a rock until things blow over things are settled remove the rock and pump the oil on a kick back from the new owners holding something as collateral from the new owner that maybe he himself won't get but the family will. His farther maybe did that for him these things can go back generations and generations and are very hard to detect by the courts and then who is going to pay for all the James Bond work to uncover the stuff that should go on the tax payer or investors spending more good money after bad.
Welcome to the market Jack be nimbol jack be quick Jack jump over that candle stick or have faith in the laws and courts. Five years is all there is to collect debt I believe the time has past but what do I know.
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