RE:secured debt now 89 cents on the dollarDon't let rad10's $62 million figure scare you. At the same time, the company has something well in excess of $400 million in cash and additional unused credit facilities. It is not withholding the interest payments because it cannot make them. It can. But it's saving the money for later payment to the secured debt-holders, the ones who will really matter down the road if there is a default in relation to their debt.
That's what you do in a financial restructuring.