It always felt like a facade to me. When 3AC collapsed and they were fined, they didn't really disclose how they 'solved' their liquidity problem. Taking a loan out just kicks the can down the road.
They also were handed an amazing deal that no one else was offering without taking a second to wonder why?
I assumed they received the deal because they were legit. :) But yes, agreed, hard to tell from the outside. We will learn more in the bankruptcy proceedings.
They also were handed an amazing deal that no one else was offering without taking a second to wonder why?