Re: Conversation with BK attorney
posted on
Mar 24, 2013 06:13AM
Great post, ronran.
With TPL essentially in Bankruptcy, is this sufficient for PTSC and/or PDS to have full access to TPL's accounting records and thus be able to reconcile in excruciating detail every cent of the cashflow from a licensee through TPL and PDS to PTSC?
Does it also allow the reconciliation of TPL's MMP expenses for Alliacense et alia against the TPL 15%(?) off-the-top deduction before license fees flow to PDS and on to PTSC?
Is a creditor allowed to request such an audit via a Trustee in Bankruptcy?
Is it more likely that Leckrone built barriers in the Settlement and/or 2012 deckchair shuffling that brought Alliacense into prominence - barriers to prevent such investigations? Is it likely that Carlton Johnson, PTSCs rep at PDS, condoned, or was told to condone, such constraints.?
Can a Trustee in Bankruptcy override such contractual constraints in the interests of fair treatment of a creditor?