"We do up to 4th position. The risk is calculated, no ones is throwing good money down the drain. " - per Ocean Financing on another post.
I guess I am curious to know what position advances these were and what is stated in your Agent Agreement on defaults?
If you are a high risk funder taking on this kind of paper maybe you should look to your underwriters and your overleveraging of merchants.
With that being said, HW if these are your "friends" why not get them back on track and answer Ocean's calls? Why are you hiding?
Vital pieces of information left out here by both parties.