posted on
Oct 16, 2006 09:23AM
Yes, PTSC at all times has 50% ownership of both the assets and liabilities of PDS. So yes, they have rights to 50% of the cash in PDS.
TPL also gets a distribution of their 50% of the profits in PDS. They also have the same rights/ownership regarding the assets and liabilities of PDS, and thus the cash.
"Ptsc still has 14m left in their 50% ownership of PDS?"
Not sure what you mean here. What 14m?