Re: TPL BK Pacers 12-27-13
posted on
Dec 31, 2013 01:16PM
Ptsc3p0, you say the creditors will want to continue the Alliacense "dealings w ptsc so they can get paid disproportionately to ptsc (ie. his 15% off the top)." The 15% off the top was part of the Alliacense deal if I remember correctly. The Creditor's Reorg plan nullifies the Alliacense - PDS agreement. That 15% was made under the guise of MMP licensing fees (lawyers, payroll, etc.). That agreement would in theory cease to exist. Show us all on this forum where the 15% would be transfered from expenses to creditor payments? I'm open to be persuaded differently. ------------------ I'm not looking to get into an anecdotal back and forth about Leckrone and his shennanigans. I will only say the creditors outside of Gloria Felcyn and Carlton Johnson are a lot more business savy with the right stratetgies in mind. The reason PTSC shareholders are closer to significantly "marginalizing" Leckrone is because of the Marceouxs, Moores, etc., of the creditors than the aforementioned PTSC BOD members who were woefully negligent imo.Game theory in this instance should be realized by the creditors that it is in their best interests to stay the chapter 11 course because there is far more probability of recovering money as opposed to a chapter 7 liquidation. So we will see if the creditors vote to approve and the judge accepts the reorg plan. Everything we have been sayng for years has become true. Simple basic logic and now the natural turn would be to ask some on this forum why they supported inaction for so long? But I think we all know why that was the case. Crystal clear and transparent ...