Great job, Banosser.
"TPL’s Quarterly Payment (as defined herein) shall be comprised of 100% of the distribution of MMP Portfolio proceeds from PDS to TPL and, for a period of time, 12% of Adjusted Gross Revenue. Until full payment of all allowed claims is made, TPL shall allow a nominee or representative of the Creditors’ Committee to occupy its seat on the PDS Management Committee, subject to limiting condition set forth below regarding the making of a capital call.
What use is this? Do we really think he is going to allow Alliacense to work on MMP when he clearly wants to keep all CORE income?
And why does he think he can put a condition on the PDS third person? The set-up of PDS REQUIRES the third seat, no strings attached. Will this snake ever run out of slime?
As an aside, and maybe I mis-read earlier posts, but if his daughter Susan Anhalt, is a creditor, how is it she can defend TPL and presumably get paid for her services by TPL?
