Good Morning Trader59, see my response in bold below.
"TCA is owned real money. It’s right in the company’s bankruptcy filing, $2.6M secured loan and $3M unsecured. That wasn’t fraudulent and is unrelated to TCA’s troubles with the SEC. This company hasn’t said a word about being defrauded by TCA and that debt will stand."
This is simply not accurate. In order to induce ZNGY into taking out the initial loan ($10M to be paid in installments), TCA would have been required to make certain representations about the assets they had under management and, at minimum, represent that they were capable of making the payments. We now know that they never had the money to live up to their end of the bargain, which is why TCA stopped making installment payments; therefore, TCA fraudulently induced ZNGY into signing the loan documents and TCA is responsible for all resulting damages. TCA certainly won't be permitted to derive a financial benefit from this fraud - that would be considered unjust enrichment. TCA's failure to continue making the loan payments disrupted Zenergy's business operations so any fallout, such as payments due to unsecured creditors, will now be TCA's responsibility. We found out 3 days ago that ZNGY has found a lender to fund their bankruptcy exit. Part of that will be paying the lawyers and making the appropriate legal filings. TCA remains under SEC investigation and the extent of their crimes is still unfolding so you can't go off of the old filings on this one without taking into consideration the new facts.
