[r.....t]

http://jeffcnyc.tumblr.com/post/149083643277/ducks

Each of the Administrative Agent and each Group Agent shall have received opinions, dated no earlier than the Effective Date, of Proskauer Rose LLP, special bankruptcy counsel to the Loan Parties, the Borrower Subsidiary Parties and SolarCity, each in form and substance reasonably acceptable to the Administrative Agent, the Collateral Agent and the Majority Group Agents , with respect to the Subject Fund Transactions.“ (This is directly form the credit agreement amendments filed in the SolarCity 10Q)

Quack.

Not exactly a great situation. An entity in the zone of insolvency taking investments from an affiliated entity holding large government deposits.

So what did Elon propose?

Buying that entity with another entity he controlled. Which by the way had just raised $1.7 billion. Run out of money at one company, use the money from your other company, and then when that runs out, use the money from a third company. Reality was they raised $1.7bn under the guise of building a new car and then proposed merging with a potentially insolvent affiliate. Oh yeah, and Elon even proposed a bridge loan to said entity on the deal conference call (yes, SolarCity’s funding situation was that bad).

#elonmusk #solarcity oraz #tesla

#ciekawostka

Solar City serio tak cienko ?