I think this actually easier to understand, if the company was insolvent and going away why would Meridian allow it go forward. Their loan is secured by KL and if they consider their equity to be gone why wait for the company to reduce the value of the asset any further.
It's only a guess but my bet is that they are in no hurry to foreclose on the company and are working with these guys to resolve the big issues the company is facing.
We should see an announcement that they are beginning trading again or that they need more time. I doubt very much that we will see an announcement stating that they are going away.
Fortunately we can still buy and sell in the US while we wait for them to sort this out.
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