Re: Facts, facts, and......, you decide: bankerson
in response to
by
posted on
Apr 14, 2010 01:39PM
Actually I was thinking the other way around. That TPL could be made to sell some of their stake to PTSC. But I guess it could work either way. ( Except TPL doesn't have any money? [I really don't believe it.]). If TPL owes PTSC money and they don't have it to pay I believe a judge could say " then sell something of value" so that you have money. and give PTSC the cash". If per the contract both parties have to agree, I suspect that PTSC is never going to agree to any sale except for one. That one sale would be to them since they ( I assume ) would a only agree to one that is in PTSC's best interest. I guess it could be a sale of TPL to another entity that PTSC would agree to that might have PTSC's best interest in mind. ( Of course the only sure entity would be PTSC itself).
This whole thing could also cause the potential of a bigger sale by both parties if both agreed as per contract and both were satisfied with the price they would recieve. I don't know how likely that is because both believe that the MMP is worth more than what others think. I just wish PTSC could get controlling interest.
Another point in all this going to court business is that it may probably is going to reveal much about finances by all parties if the judge asks to see things. As long as each parties are clean what do they have to fear? Since TPL has been in charge with 2 board members vs. one of PTSC, I think TPL has the most revealing information. If PTSC can't get to see it maybe a judge can pry it open.