This is possible, but potentially hard to prove.
Ultimately, Derek is right in that all of this is likely to be moot, given the size of the loan and the money they are pulling in. I suspect they’ll pay it off and we won’t hear about it again.
If not, drama either way, because as you say, losing SQ42, would still be a massive loss for CIG. Its value to them is huge. They spent serious money getting folks like oldeman to act in it, and that would definitely be lost no matter how you read the contract.