There is no deal until the money arrives... and the money shown on the balance sheet as a trust deposit probably isn't from the partners since the company has not publicly stated that it is...and there is probably more to the failure to deliver the first tranche than a simple "banking problem."
if there weren't some serious problems the company and jv partner would be doing more damage control. otherwise why hang us out to dry like this? They can't be that stupid.
That depends entirely on the deal you sigh and what contingencies, if any, are in the deal. There is a little thing called "Specific Pacific Preformance of a Contract", that usually applies to the seller but can also hold the buyer responsible for damages to the seller.
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