It seems to me that this is a fairly simple case of a creditor and debtor, where the debtor is unable to pay. The legal and contractual niceties are somewhat irrelevant. The debtor is obviously unable to pay the debt in one big lump, or even bit by bit over a reasonable period (in this case the time of a overhaul). What it boils down to for the creditor is an assessment as to what is the maximum amount of money or payment in kind they can expect to get out of the debtor and over what period, taking into account the current and likely future financial position of the debtor and the likelihood that they will actually carry out any agreement made. I think it can be fairly safely assumed that, if the Plc goes bust, no-one will get anything except the banks. Given the current financial situation of the Plc, it seems unlikely, even with the best will in the world, that they could carry out the overhaul of No 88 unless that overhaul was very protracted indeed, keeping the loco out of use until 2030 and beyond. Therefore it does look like the best option is for the S&D Trust to have the loco overhauled elsewhere than the WSR and see what they can get out of the Plc in the way of cash and workshop time working on specific items. It's worth bearing in mind that everyone concerned would be in more or less the same situation with regard to No 88, even there had no eviction and "cuckoo in the nest" remarks and the financial position of the Plc was still as it is today: the net result would still be that, if the Trust wanted its engine back in working order any time soon, it would have to fund a large proportion of the repair itself and, probably, have to have a large amount of the work done away from the WSR.