"The constitution of the arbitration panel is a given, it will happen and things will move to completion if we get the $$$"

Are you saying the constitution of the arb panel hinges on getting financing or the completion of the arb process? I believe you mean the later. If we don't get the money we file for bankrupcy, no? Even if we do file for bk protection that doens't necessarily mean the end of the company and, why would that derail the arbitration process? Aren't the two mutually exclusive processes? I'm sure it is very legally complicated.