I suspect all the money loaned to TPL is unsecured, and that most likely the reason TPL is witholding payment on remaining balance owed is that PTSC management challenged TPL's licensing deals and Lecky got mad and said screw you. For some to think that the loan is strategic and the default will result in PTSC gaining 100% ownership of the MMP is laughable. If that is/was the case, then what does that say about the value of the MMP?
Good luck everyone!