Laurie and all
posted on
Dec 28, 2013 04:05PM
If you reread pages 42 and 43 from BaNoss' link, my interpretation is the TPL-MOORE-PTSC-PDS agreement will continue. The question, which is referenced in the later pages of the filing, speaks to how "mannagement" would proceed with Alliacense. They (new management if the reorg plan is approved by the Creditors and Judge) might continue to use Alliacense or go down a new path and go outside of Alliacense. Keep in mind this Reorg Plan was put together by the creditors of which PTSC is a part. There are a lot of good things in the filing and it is the furthest anyone has come to removing Lecky and his insiders. Lastly, I believe BK court orders overrule contracts that are not beneficial to the Creditors, especially if the contracts contain conflicts of interest like the Alliacens contract where clearly the Creditors document fully that they believe Leckrone is double dipping on licenses. My point is not to reopen old wounds as they are very frustrating.