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Message: Re: cash collateral definition
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Dec 07, 2013 12:46PM
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Dec 07, 2013 12:47PM
"This cash collateral cannot be used by the debtor even in the ordinary course of business to, for example, pay workers or buy new inventories, without the consent of the creditor or by order of the Court."

So what happens if PDS is instructed by PTSC to demand TPL meet its financial obligations for PDS and also,demands that TPL meets any obligations to PTSC? Can that be done under the bankruptcy process? Can PTSC then claim its majority holding of PDS? Should it?

Also, is it true that PTSC and PDS are represented directly on the Bankruptcy panel, i.e. in persona presumably of Carlton Johnson or Gloria Felcyn? I thought I read that on this board but I didn't see it in the couple of BK docs posted by i2007s.
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