The last paragraph says it all though. Lazar needs 30 days to merely settle the notes. He had hoped to reach a deal in which he could move the shell forward and he couldn't and because there is a deal in place Lazar had no choice but to honor it instead of a voluntary termination like LGBI. "to the detriment of the shareholders" and "prevent futuee business operations" mean he will not be able to save the shell. It would now be in his best interest to let it die.
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