re Q
I don't know a thing about Q and pinks -- I just know collecting judgments in Texas. The guys running the bankruptcy proceeding are obviously trying to play chicken with the company's management in the American press. This is, from one point of view, hilarious: ETLT's management doesn't need to raise funds from the US, as it's drowning in cash; ETLT's management isn't looking to exit, as it expects to continue managing the company for some time and hasn't much concern about quarterly price fluctuations; ETLT's business is all in China, where US judgments aren't worth the paper they're printed on, and the US proceedings are of little consequence to ETLT's business partners in China.
ETLT will get the result of its appeal and either moot the bankruptcy proceeding, or realize it's got a genuine obligation and pay it. This dance in bankruptcy court during the pendency of the appeal is, as far as I can tell, a waste of resources for everyone involved -- unless they luck out and get Vanessa to sign a contempt order. She's signed stupid-as-he11 opinions before (e.g., on ERISA preemption) and I wouldn't necessarily bank on her to get anything right.
Take care,
--Tex.
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