Re: Press our advantage in Bankruptcy Court .. Great post, Absolutely !
posted on
Oct 11, 2013 11:20AM
I brought this up last week too .. "or not considering our failure to yet utilize current opportunities Bankruptcy Court provides us to protect and advance our corporate interests against TPL", ...
Your assessment is accurate IMO. I also believe our BOD has an OBLIGATION to act to protect and insulate our only revenue producing corporate asset which resides in the PDS JV along with TPL.
I also believe they cannot voluntarily turn a blind eye to a contractual clause which was negotiated in JV agreements and which was specifically agreed to by both parties to cover a contingency such as bankruptcy.
TPL would press every advantage and skin us alive in BK Court if we were the fliers seeking protection. The PTSC BOD needs to act or they will be breaching their fiduciary duty, IMO it's not voluntary for them.
Your post was great information, the BOD knows that we know.