 The facility agreement for the debt provided for appropriation to be an available remedy in the event of default.In April 2007, ATT advised CFI that, in its view, there had been events of default under the agreement, and it demanded immediate repayment in full of the outstanding amount of the loan.CFI did not repay the full amount by the specified date, and ATT sent a letter to CFi stating that it had appropriated the pledged shares of the BVI company.