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LarryAshy

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LarryAshy

Re: Lilarmojohn post# 3891

Thursday, 11/30/2017 6:21:25 PM

Thursday, November 30, 2017 6:21:25 PM

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Definitely not true.

Due to the structure of an MLP as a pass through entity, the liability gets passed on to the shareholders. Breitburn is the bankrupt entity, NOT the shareholders who "own" the company. THEY are the ones who burden the cancellation of debt, NOT Breitburn.

I can't possibly give you a more simple description. I'd give you a more detailed class, but unfortunately I think it would be a futile effort.
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