Was there anything that Fung/KRY management could have done to stop Hugo from illegally cancelling our MOC? Plain and simple question.

No...of course not....but he\they should have anticipated a prolonged waste of time and money years ago given Hugo's proven track record and immediately filed for arbitration (as I and others advocated at the time). If they had opted to bring in the Chinese AFTER filing for arbitration as a negotiating tactic....then that would have been a more prudent approach. As a result of Fung's apparent naive belief that a tiger (Hugo) would change it's stripes....KRY is now in a pitiful situation in terms of negotiating leverage. Indeed...a takeover by the bondholders (with shareholders getting zilch) is now a distinct possibility. Fung=Genius? I think not.