Mesa Offshore Trust (fka MOSH)

[apostrophe]

re: "Did Morgan Stanley settle for 1.5 million and 3 million line of credit?? "

Actually JP Morgan Chase did.

Here's a link to the whole news story:

"Mesa Offshore Trust Announces Proposed Settlement Agreement, Including Resignation of Trustee and Appointment of Temporary Trustee"

http://www.businesswire.com/portal/site/home/index.jsp?epi-content=NEWS_VIEW_POPUP_TYPE&newsId=20071213005820&ndmHsc=v2*A1167915600000*B1199482510000*DgroupByDate*J2*M717*N1001462&newsLang=en&beanID=1963892417&viewID=news_view_popup

I'm not sure what "with prejudice" means but JPM had a conflict of interest since they did big business with pxd while ostensibly looking out for the interests of mosh unit holders, which they apparently didn't do.

And yes, you could say it was a bit bullish since it was a step enables mosh to go forward with the primary lawsuit which seeks to recover $1.2b from well operators pxd and woodside.

The hearing is expected to finalize that and is the next step toward actual trial of the main complaint. And, presumably increases the motivation for the defendants to settle.