Borrower-initiated restructure: four-month extension
DraigFi: paid Wi-Fi for hosts with spare bandwidth →DraigFi Cyf notified lenders three weeks ahead of the August instalment that it would be missed, and proposed extending the term by four months with the missed coupon capitalised. Twenty-two of twenty-six hosts are live and billing within 12% of model. Nineteen units are held at the supplier against an unpaid balance.
Evidence
Anyone in the case may file an exhibit. Nobody may remove one.
Host revenue reconciliation
Twenty-two live hosts, revenue per host within 12% of the origination model.
Filed by Mitch Burcham · Aug 9, 2026
Supplier statement
Nineteen units held pending payment of balance.
Filed by Mitch Burcham · Aug 9, 2026
Revised cash-flow model
Coverage returns above 1.0× from Q1 2027 under the extension.
Filed by Marguerite Okonjo · Aug 20, 2026
Timeline
Borrower disclosed shortfall and proposed extension
Mitch Burcham · Aug 7, 2026
Evidence filed
Mitch Burcham · Aug 9, 2026
Credit downgraded to C; extension recommended
Marguerite Okonjo · Aug 20, 2026
Lender vote opens
System · Sep 12, 2026
Case room
The case room is open to lenders holding a position in this loan, to the borrower, and to the arbitration team. The file above, the evidence, the timeline and the outcome, is public and stays public.
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