habs_fan
There is another now defunkt airline chasing E-Clear for about 13 million. It's usual for companies like E-Clear to with-hold a % of funds to cover refunds etc. The contract detail can, and often does get complex. However, if E-Clear is operating in accordance with its contract, then that will logically form part of the business and financial model the airline will work to. It is conceivable that the airline could go to a bank and raise cash based upon the E-Clear holding. It seems to me that the airline was trying to re-negotiate its contract. There are almost certainly regulations that must be complied with, and its possible that what the airline wanted was not possible.
Unless E-Clear is running into problems itself, (there would be other airlines screaming out) then I feel it is a smoke screen. The financial difficulties run deep and long.