Some posters are getting inordinately stressed out I fear, with this initial Bankruptcy opening declarations, IMO. Both sides are simply stating their opening maximalist positions going into the hearing. Lecky deliberately understating ($125M) MMP value and threatening to take the ball and go home, while the Creditors Committee presenting their side that Lecky is nothing short of being Bernie Madoff in disguise.

There are many moving parts in this proceeding, some seen some unseen - Swartz. It's all about Leverage, bluffing, and who blinks first. Appearing to be negotiating in good faith and offering to cut his salary for himself and his crew for a short time was Lecky's opening gambit to convey sincerity to the Court. His sleight-of-hand trick offering to give up MMP control tempoairily, while retaining ultimate control of the MMP is readily transparent to all. To an outsider, reading each sides arguments may conclude Lecky is not taking this Proceeding very seriously based on his initial declarations and his open distain and hostility directed at the Creditors Committee, in general.

IMO, Lecky has "Gamed" this Bankruptcy case thoroughly and sincerely believes he has ultimate power, and can stretch this case out indefinitely and still emerge in good shape. One of the Prime challenges for the Creditors is to convince the Court that "Time is of the Essence", and to expedite resolution of the case, given the limited shelf life of Prime MMP licensing availability - 2014-2015, excluding 6 year look back of diminishing quality.

Am sure part of his opening actions will serve the purpose of "Smoking his adversaries out", to ascertain what Their initial positions are, providing Lecky important clues on how to counter future arguments which are sure to come from the Creditors Committee in front of the Bankruptcy Judge. We are only in Round 1 of a 15 Round Championship Prize Fight....Virt