Recent statements from the Chief Restructuring Officer reveal some telling details about HoldCo II's actual financial position. The entity carries zero operating expenses, which is significant in itself. Meanwhile, rental income substantially outpaces the CMBS debt obligations—a crucial detail for creditors. Management has explicitly stated there's no immediate default risk on the horizon, and perhaps most importantly, HoldCo II currently has no pressing liquidity needs.

These admissions paint a picture that directly contradicts the rationale for continuing interim DIP financing relief. When a vehicle generates rental income exceeding its debt service requirements, maintains no operational burn, and faces no imminent solvency crisis, the case for emergency funding support becomes considerably harder to justify. The numbers simply don't align with the distress narrative.