All contracts are subject Bankruptcy Court purview and discretion, and generally the creditors committee will have significant input. As well, all assets (i.e. TPL's 50% MMP) are subject to the same purview and discretion. If it can be demonstrated that the stakeholders will be better off with MMP control/ownership held outside of TPL, then likely the asset, or control over it, will be transferred or sold. Even if forcing an auction for TPL's 50% results in an entity other than PTSC owning it, it may well still be in our benefit, as well as the other Ch11 stakeholders.

If the powers-that-be at PTSC concur, they have probably their single best opportunity (ever) to force the issue now.