Box Ships Inc (TEUFF)

[temp luvs amy]

I disagree, but lack any background in this objection. I think it was legal. What I think was illegal, was taking the ships without some sort of conversion of his preferred or returning some compensation (more than $1 for each ship) to TEU. Equity in Allseas, for instance, would be a typical structure. In fact, he showed a receivable, as well. So there was a cash enumeration, too.