even if the loan/bond is secured on the equivalent value in assets
Which likely already have loans / other obligations liens against them that have more seniority.
So he has to sell
Which, arguably, he can't do without paying back loans, or that he doesn't actually own the assets in the first place - he just has his name above the door.
This is why this is a step into the unknown, we will get a little peek behind the curtain. It really could all unravel but then it really could have all unravelled all the time since he announced he would run all those years ago.
Which likely already have loans / other obligations liens against them that have more seniority.
Which, arguably, he can't do without paying back loans, or that he doesn't actually own the assets in the first place - he just has his name above the door.