RE:RE:RE:RE:RE:RE:Update ?As the loan appears to be unsecured, the process of the lender recouping their loan can follow a couple of different approaches.
1. An agreement is struck to extend the term of the loan. Possibly increase the interest rate. Possibly convert some portion of the loan into stock options or some type of preferred shares. Lots of different possibilities as long as they view FT's Nico asset as having some degree of value that can be monetized in the future.
As long as FT has been making their interest payments, probably the most likely outcome since the lender keeps getting paid, aviods a lengthy court process and creates some certainty for the lender.
2. Go to court and gain access to their assets and/or force them to liquidate to pay their loans. Definetely a possibility, but a very lengthy process. From the lender's perspective probably better to just wait and see what happens (as long as FT is paying the interest regularly).
I think it all depends on whether FT can continue to make payments and how the lender views their future potential as to whether they will immediately force repayment or be willing to negotiate.