" He took possession of the collection in September or October of 2014 "
Sorry, I don't think a LA News Article from 19 years ago is relevant.
From Investopedia Oct 2022.
" Toxic debt refers to loans and other types of debt that have a low chance of being repaid with interest. Toxic debt is toxic to the person or institution that lent the money and should be receiving the payments with interest. Toxic debt generally exhibits one of the following criteria:
Default rates for the particular type of debt are in the double digits.
More debt is accumulated than what can comfortably be paid back by the debtor.
The interest rates of the obligation are subject to discretionary changes.
Any debt could potentially be considered toxic if it imposes harm onto the financial position of the holder."
So it is the Loan / funds that are toxic not the financier, And as we so far know this transaction between Red Alert (Holly) and TTCM, was done honestly according to FCC rules. There is no Toxicity to be found in the transaction !!!
If a shadow is to be cast in the future, it will be if MR Holly, sells his Preferred H Shares for Common Shares or Cash and at what price. I personally think that would be stupid as, as things stand he would loose his dividend. and probably a considerable amount of his original 514 million outlay..