You are correct. It was about 1) the secured bondholders not getting their contractual rights recognized, as you say, and 2) the lawyers for Indiana also argued that the sale was facilitated by an unauthorized use of TARP money.
Thanks.
One question:
“the sale was facilitated by an unauthorized use of TARP money”
I don’t understand how the TARP funds are involved. How did the funds facilitate the sale?