Just got off the phone with Paul, and was told the following:
There are 3 routes to get the funds, (1) Credit Line from tranche of stock via the Bank of Vienna; (2) Credit line via other tranches of stock via other European bank (I didn’t write it down) and (2) Sam via the Chicago company.
The Bank for (1) has confirmed the CL against the stock and the board of directors has been dragging their feet, but is expected to convene tomorrow to sign off and finalize the CL. Once this occurs, Paul will fly to Vienna (expected to be Monday), sign off on the CL and be able to start pulling from it in 24 hours or so, so Tuesday/Wed next week.
Once he is finished in Vienna, he will drive to Bank (2) and expects to finalize that CL on the same day, with ability to pull from its CL during the same timeline.
Once the CL for (1) is finalized, this will put Sam in Chicago more at ease, and he should be able to send over the funds to fund the smaller deals (i.e.-Heights and Amendola) first, along with part of Terry’s I assume, with the remainder of Terry and Dobbins to be funded as RCM pulls from the CLs.
In other words, there are 3 avenues that, depending on which one is completed first, will be used to fund the smaller deals, with the 2 CLs to be used, depending on which one is completed first, to fund the larger ones.
That’s all I know
Patrick
