Seeclear...
I wasn't disagreeing with the fact that there have been leasehold mortgages on the pit. I was disagreeing with the fact that there was some Court mandated lease restructuring as you continually insist there was. There is simply not one iota of proof out there besides the increase in the O/S. And as LA seems to require the recording of mortgages by law, they would have recorded any new mortgages in the same court documents you refer to by law. Now if you are implying that the financing they did was some how illegal, well, I'll leave you to PM irish about that. But that doesn't add up to me as the folks looking to receive the restricted shares would certainly want to see everything handled appropriately, ie we would see the during and post-Chap 11 leasehold mortgages recorded as well.
Also, Capital Growth pulled away from PBLS before they went into Chapter 11, so they would not be looking to give more of their cash to PBLS for restricted shares.
Phoenix Associates Lender Trust's were groups of private individuals who exchanged cash for restricted shares with the lease on the pit as collateral at the direction of Capital Growth Planning, Inc. That's part of what Capital Growth Planning does as a company. The mysterious Calvin Brown is not listed in the list of individuals that make up these trusts.
Again, not saying something went on behind the scenes as you suggest. Again, if not, why have a gagged T/A. Just saying that there is no solid evidence that it happened the way that you imply.
Ren
"Experience: that most brutal of teachers. But you learn, my God do you learn." C.S. Lewis
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