Re: No claims in BK for Otteson or Agility ? ... If it's true they're not, Fut

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l2007s

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Re: No claims in BK for Otteson or Agility ? ... If it's true they're not, Fut

in response to

Re: No claims in BK for Otteson or Agility ? ... If it's true they're not,

FutTheWuk

posted on Mar 16, 2014 06:04PM

Would it be illegal or even make sense if PDS paid off Otteson? If PDS required a capital contribution to do this, I believe that pursuant to the settlement agreements independently submitted by both the Official Creditor's Committee and TPL there is a provision which will allow TPL some slack in paying his 20% of gross revenues to creditors, if there is a call for a capital contribution. If he is continuing to license his other portfolios, then he may have money for a PDS capital call.

If they agreed to have PDS pay off Otteson by virtue of a capital call for both JV partners, then how would this be illegal?