Part of the key is that a company who files for arbitration must remain solvent throughout the process. GRZ has enough cash to see it through arbitration.

Ian....that is a good thing as far as I'm concerned. It eliminates the attractiveness of bankruptcy as a vehicle for management to appease the bondholders and resurrect itself at the expense of the shareholders. It makes me feel better about the motivation for management to bargain for the benefit of all investors (shareholders as well as bondholders) for a timely resolution to our situation.