I still support Moore's plan
posted on
Sep 26, 2014 02:54PM
Here is why:
As I read it, Apple and the other licensees need additional language, from Moore's plan, for their protection and if they get it, they just might turn their support in favor of Moore.
The language of the Joint Plan is not coincident with the language of Patriot's 8k, exhibit 10.10
According to the Joint Plan
In July 2014, PDS and Alliacense agreed, among other things, that a second licensing company would be hired and split evenly between Alliacense and the second licensing company
p.81 of 88
http://photos.imageevent.com/banos/tplbk/Disclosure%20Statement%20Re%20Joint%20Plan%20of%20Reorganization%20by%20Official%20Committee%20of%20Unsecured%20Creditors%20and%20Debtor%20Filed%20by%20Debtor%20TPL%209-17-14.pdf
However, according to Exhibit 10.10 filed with Patriot's 8k on July 30, 2014,
f. Patriot Licensing Company
To reinvigorate the MMP Program, the parties agree that Alliacense will be the exclusive licensor as to approximately half of the universe of prospective licensees, and one or more other licensing companies as to the balance. The licensing companies will not be in competition and it is in their interests and that of the MMP Program for all licensing to achieve its maximum potential. [*]. The licensing companies will coordinate their efforts in the best interests of the MMP Program
emphasis by me
p. 10 of 20
Also according to the Joint Plan
Controversies arising out of the PDS-Alliacense Services Agreement still exist and must be resolved as a condition of confirmation.
p. 56 of 88
http://photos.imageevent.com/banos/tplbk/Disclosure%20Statement%20Re%20Joint%20Plan%20of%20Reorganization%20by%20Official%20Committee%20of%20Unsecured%20Creditors%20and%20Debtor%20Filed%20by%20Debtor%20TPL%209-17-14.pdf
I didn't see any mention of those controversies having been resolved since 9/17 when the Joint PLan was filed.
I may have missed it so corrections welcome.