They were on hook to Credit Suisse for a substantial loan and needed to find a way quickly to boost the collateral value of their assets.

WSJ: London Needs Full Inquest

Carlyle Capital that said while its parent company had participated "actively" in negotiations with lenders and was prepared to provide substantial additional capital if a successful refinancing deal could be reached, negotiations had deteriorated on Wednesday when a pricing service used by some lenders reported a drop in the value of the assets' collateral.

FORBES: Magazine Article

Not only have many of those assets dropped substantially in value, the banks also hold collateral against loans and borrowers.

FORBES: Now For Some "Recent Turbulence in the Mortgage Industry"