Maven Brands Inc C.MJ

FTI Insolvency Trustee further review of published creditors

[BCStock]

Further reviewing the FTI published debt figures for each True Leaf divsion shows each True Leaf Division owes Lind (the USA loan sharks) $5,840,000.  How much did Lind actually loan in total?  If we assume it was just $5,840,000 and they filed the same number against every True Leaf company they could find,then my calculations indicate the total True Leaf debt might be around the $6,720,000 mark plus or minus , but still in excess of the total assets remaining at True Leaf.  I assume Lind just fired their debt total at every divsion to somehow secure a more solid position. 
Conclusion remains the same: This is devasting news for the long list of creditors and shareholders.

[LTInvest1234]

You are correct that they put their outstanding amount on each company. The $5,840,000 is the Lind debt. Unfortunately they hold all the cards. Here is what was in the original finance agreement showing their preferred security position. The shareholders and other unsecured debt holders are out of luck. "The convertible security is secured by a general security agreement from the Company and

[Weston]

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