They might not care. It's money now, versus an asset that would still be technically in default. It was a liquidity crisis, or at least that was the official li

They might not care. It's money now, versus an asset that would still be technically in default. It was a liquidity crisis, or at least that was the official line... $3.4 million in cash might be worth more to them than $18m in bad debt even if it was repaid - it isn't good on balance sheets, and with all the regulations about how much money has to back what and what counts as backing (and private contractual obligations - how do the credit default swaps outstanding treat something that's paying interest only vs a total writeoff), without knowing the details almost anything could be the case.