Pen,

I thought the same thing when I read about the loan negotiations. I would think that the lenders would want to see the collateral being pledged for the loans and would want assurances it was clear of any "leans" or liabilities. Only one way to do that, I would think.

On the other hand I was wondering if he wasn't looking for a source of funds to pay KRY to free up the property and move forward. Maybe the lenders are even demanding that part of the proceeds of the loan goes to free up LC and remove KRY from the equation.

BTW: part of the equipment we had was sold off some time back, as I remember. Not sure which parts. Earth movers I think.