Phoenix Associates Land Syndicate (fka PBLSQ)

[makesumgravy]

What a legal mess of legal wrangling. I initially thought that Pbls owned that sand and gravel pit outright. Then there is the bridge situation!...Geez are they working slow down there. Maybe there waiting for the bridge to collapse?

Anyway this sand and gravel operation is a core part of their business. Its this, the equipment and their fleet of trucks that makes this business what it is and so valuable. If they would lose this they would really have some restructuring to do and change their business model. It would no longer be the unique company it is. With Katrina this operation should be a must. Instead of it making them a fortune right now it sounds as if its not even profitable?

I don't understand the lesser party or the lease?

Sounds like 3 parties

1. The bank

2. The eqiupment manufacturer

3. The lesser party. Who is the lesser party

The company needs ownership of this.

Get clear of the bank and use any money to buy their equipment and get clear of who ever this 3rd party is.

This may be another 6 months before they really know this outcome.