Comments on: W Holdings Takes Hit On Inyx Bankruptcy http://thedealsleuth.wordpress.com/2007/07/19/w-holdings-takes-hit-on-inyx-bankruptcy/ Disrespectfully tracking mergers, buyouts and other bad deals Fri, 13 Nov 2009 05:20:57 +0000 http://wordpress.com/ hourly 1 By: thedealsleuth http://thedealsleuth.wordpress.com/2007/07/19/w-holdings-takes-hit-on-inyx-bankruptcy/#comment-3365 thedealsleuth Sat, 26 Jan 2008 04:37:10 +0000 http://thedealsleuth.wordpress.com/2007/07/19/w-holdings-takes-hit-on-inyx-bankruptcy/#comment-3365 Reuters reports that Semion Mogilevich has been arrested today: http://www.reuters.com/article/newsOne/idUSL2537376820080126 Reuters reports that Semion Mogilevich has been arrested today:
http://www.reuters.com/article/newsOne/idUSL2537376820080126

]]> By: thedealsleuth http://thedealsleuth.wordpress.com/2007/07/19/w-holdings-takes-hit-on-inyx-bankruptcy/#comment-1834 thedealsleuth Fri, 20 Jul 2007 12:45:52 +0000 http://thedealsleuth.wordpress.com/2007/07/19/w-holdings-takes-hit-on-inyx-bankruptcy/#comment-1834 Dave is correct. Westernbank's is an asset-backed loan. Dave is correct. Westernbank’s is an asset-backed loan.

]]> By: Dave http://thedealsleuth.wordpress.com/2007/07/19/w-holdings-takes-hit-on-inyx-bankruptcy/#comment-1833 Dave Fri, 20 Jul 2007 09:56:43 +0000 http://thedealsleuth.wordpress.com/2007/07/19/w-holdings-takes-hit-on-inyx-bankruptcy/#comment-1833 Good summary. However you don't have all of the facts right. For one, you state, "The bankruptcy court has already allowed him to take a first step in that direction: he was allowed to provide debtor-in-possession financing to Inyx and now has a priority claim to all of its assets, over the objection of Westernbank." He certainly does NOT have a priority claim over all of its assets. What he has is a claim to any assets that are not directly collaterlized by Westernbank. WB basically has everything as collateral. Read the court document. Basically he can lend cash and that cash and whatever it buy is his collateral. Anyway, this may get overturned in favor of WB. Good summary. However you don’t have all of the facts right. For one, you state,

“The bankruptcy court has already allowed him to take a first step in that direction: he was allowed to provide debtor-in-possession financing to Inyx and now has a priority claim to all of its assets, over the objection of Westernbank.”

He certainly does NOT have a priority claim over all of its assets. What he has is a claim to any assets that are not directly collaterlized by Westernbank. WB basically has everything as collateral. Read the court document. Basically he can lend cash and that cash and whatever it buy is his collateral. Anyway, this may get overturned in favor of WB.

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