jc,

i think tenor's 35% is actually justified (or at least not arguable). if i were putting up $30+mil for an arbitration that is not gauranteed i'd want a decent return as well. fact is, the guy with the cash makes the rules and if better terms were offered by someone else i would hope that offer would be submitted. tenor and anyone else willing to put up the cash are the ones in the drivers seat.

the real headbanger for me is that much of the "investment expense" that kry is claiming in arbitration was actually spent on salaries/bonus/ and big related party transactions (operating expenses).

so now, management will end up getting a big chunk of money in an award for money they recieved over the years... take it from the shareholders, spend it all, take it from the shareholders again.