1) distributions over the last year to members of a closely held entity (i believe) could be recaptured

Well, unless you are a part owner of TPL, why would this concern you? TPL doesn't make distributions to PTSC, so as a PTSC shareholder, why does this concern you?

2) the fact that the CommAg was modified so close in time to the bankruptcy could lead to creditors arguing it was an attempt to deprive creditors of assets.

I don't believe they'd have much of a leg to stand on. Expounding on why I think that would be too time-consuming at present. So let's just say you have your opinion and I have mine.

3) collection of the assets (in part) is still a possibility in a chap 11.

What exactly do you mean by "collection of the assets"? Chapter 11 is a means for a company to reorganize and stay in business. Who do you think is going to be collecting what assets and by what means do you think they will accomplish this to the detriment of PTSC shareholders and/or TPL?

4) if TPL shows Alliacense or it's interest in the MMP as an asset, (i believe) the creditors can make a play for it. my guess is that TPL would have had discussions w/ some of these creditors and offered an extended repayment plan. bk costs and having your books ripped open is not cheap or something tpl would likely want to do IMO (and my guess is those creditors rejected the repayment plan).

You can speculate all you want on this, but a "play for any assets" is highly unlikely in a Chapter 11, at least in this stage of the Chapter 11. The idea that you are trying to convey, that the BK Trustee will just up and sell the MMP at a huge discount to some entity unfriendly to PTSC is just your way of trying to generate fear. The likelihood of such event happening is miniscule at this point.

5) i wonder how all of this could affect the new CommAg. if our lovely BoD's, who have admitted in court filings that they were concerned about TPL's financial picture, have given up their rights to terminate the CommAg upon a TPL bankruptcy event, it would appear they've failed in their fiduciary responsibilities to shareholders. is this finally shareholders' chance to file a derivative suit to remove the BoD's?

Perhaps all of the readers here that believe this can PM you and you guys can prviately arrange for your lawsuit. Good luck with that.