It doesn't look good... but that's most likely a big part of the plan.
I wouldn't be surprised to see that the new Lenders are part of the new 'deal'. Clearing out the old lenders and putting themselves in before announcing BIG NEWS.
The big question is how do they play the equity part. Easiest money is retail so I expect some news and a run up. Why? It's cheaper for the Tutes and allows them to periodically take money off the table, etc..