LaughAtPumpers and shboomer
in response to
by
posted on
Jul 27, 2013 08:21PM
I'm sure you thought, lol! Your opinions seemed thoughtful to me.
My point was that my opinions are all based on actual filings that I read either declarations, testimony, or written exhibits. A lot more than just the 4 you cite. Through those, it supports that Brown was involved in the discussions for the PDS merger, that he expected and understood his agreement with TPL to mean he was only to get 3.5% of the gross MMP revs that went to TPL, meaning NOT including PTSC's portion, and that he didn't make PTSC aware of his interests.
Through this court process though, he's moved to the position that he's entitled to 3.5% of any MMP Gross License amount for licenses where TPL is listed as the sole licensor. That's a big deviation from what he thought he was getting when he signed the agreement with TPL based on the other court filings that are there.
I won't belabor the point, as my ONLY concern is that just as he has done with TPL, where he's gotten a court award that is NOT in concert with that actual agreement, based on narroaw and subjective interpretations by the judge, PTSC could suffer a similar fate if TPL were to turn and go after PTSC for some of the money owed Brown on the grounds that since the court has interpreted it as being 3.5% of PTSC's portion as well, then PTSC should be liable for that based on interpretable language in the CommAg and Operating agreement.
The info is all there for you and others to access. I'm sure if you read what I've read, you might feel similarly towards Brown's expanded claims. Ultimately, as long as it doesn't affect the licensing moving forward and as long as PTSC ends up in no way liable for any of Brown's award, and doesn't decide to make peace and cover part in the interest of moving licensing forward, I'm for Brown getting as much as possible from Leckrone, because bottom line is that if Leckrone had just been a stand up guy, and done honest business with his partners all around, and not abused his position, not only would this not be an issue, but I feel confident that the MMP would have brought in quite a bit more in revenue to date, as the partnerships would have been solid and united, instead of fractious and combative.
That's the real shame, and the "opportunity costs" to the pps of PTSC are not calculable , but I feel we'd be well higher than we are now, if not for Leckrone's shenanigans, and PTSC's shoddy stewardship that in part enabled it.