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Message: Re:TPL BK was planned far in advance.. It's not that he necessarily anticipated
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Dec 30, 2013 11:28PM
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Dec 31, 2013 01:16PM

the ITC ID ruling would go against us, or the scheduled timing of the NDOC or ITC, etc; nor is it a conceptual or philosophical exercise to consider the likelihood of event outcomes which lead to his Chap 11 BK decision; and no, I don't think DL is a genius either. lol

What DL is, is a tricky, slippery, envelope pushing, leverage exploiting bully.

His kids and supporters are the largest group of TPL Creditors. He drained TPL of it's cash, securitized it with debt and pushed all his financial obligations through that entity. He essentially set up Alliasence to hold the corporate jewels; and made TPL the expendable entity. You'll notice no Investors, partners or outsiders ever had equity in or collaterial pledged from Alliasence; that was designed as his pure unadulterated cash machine.

DL's hostile statements to Gloria are not new, I've read his threats to her and PTSC before, it's just how he operates. That said, it's also not that DL will excape unscathed, he won't. For him, like anyone/business who elects to file a ReOrg BK, he's making a calculated risk to lose some power/control in exchange of gaining elsewhere. DL still has considerable leverage remaining over the creditors and PTSC; and I believe we'll see it play out.

Reorganization BKs are all about calculations and advance planning. I believe this Chap 11 filing was something he was slowly tweeking as a contingency plan as he went along for the past several years.

Anyway, thanks for your always considered opinions.

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