RE:re: no sell-off & CSCarlos,
More likely is that bankers often live by the code of how to make a bad situation worse is to take over the assets. Banks don't want to hold rigs. They will cut the cord when it's more beneficial to do so, but selling these rigs at auction likely would net very little to CS. If they let Walter operate they continue to collect fees with potential upside of Walter making things better. If they pull the plug there are no fees, no cashflows b/c rigs go idle, and fire sale auction, at which one of Walter's buddies prob purchasesa and begins to operate. It's a lose situation for CS