Nice to see some evidence of Cliff, Gloria, and Carlton standing up to Leckrone. Also makes me sick reading all the stuff that he has pulled and continues to pull to this day. Here are a couple of my favorite parts so far.

"TPL also claims to have entered into similar agreements with Dan Leckrone’s three adult children who have filed Claims in excess of $24 million in the Bankruptcy Case (the “Insider 13% Claims”).As is the case with the Insider Employee Compensation Claims, there are numerous anomalies with these agreements, including the facts that the agreements were never fully executed, that $3.2 million was distributed to Mr. Leckrone as payments under these contracts, that the Debtor’s accounting records do not validate receipt of the consideration supposedly provided, and that the agreements were dated January 3, 2003 but the grants of assignment attached evidence of patents that were not issued until July 2003. The Committee believes that these facts suggest that the Insider 13% Claims arose from a scheme to divert cash from TPL while allowing a cash reserve to be held by Mr. Leckrone rather than the Debtor. As a result, the Committee believes that the Insider 13% Claims are not valid."

"On the Effective Date, Leckrone shall be terminated as manager and Chairman of TPL, as a member of the PDS Management Committee, and in any other capacity in which he serves any supervisory, managerial, officer or decision making role for TPL, until such time as Allowed Claims in Classes 1, 2, 4, 5, 6 and 7A are paid in full pursuant to the Plan."

Has it been discussed how long this BK process will take? Is the Jan 23 hearing where everything will be decided or are we looking at this taking a while to be completed? I feel like it would be best to have this behind us before PDS receives any more money or signs any more licenses. Otherwise I fear he will always find a way to stick his hand into the cookie jar when no one is looking.