Hello again all:
I finally remembered my password
Status Update:
Here is what I have been told:
The board of XM Bank in Bejing is meeting on June 30 to make the final decision weather or not to give Teng the Loan. It is expected to be approved as long as all of the contractors sign some document agreeing to some quite unfavorable terms to them. To date none of the contractors have signed this and they have had the documents for four weeks.
I guess that they will sign the document at the last minute because if the Bejing deal falls through it does not appear that there is anyone else in line to loan the money. That would leave the contractors in quite a pickle as most likely they would have to file leins and that would about kill the possibility of any other lender getting involved.
That is it for now. As I know more I will post!!