Phoenix Associates Land Syndicate (fka PBLSQ)

[EDDIEHAZEL]

IF there ARE any assets that exceed liabilities, the holders of the series III preferreds will get that, since those can be paid off at any time, and the series II's had to wait 5 years.

There is nothing there. The court on the Picayune case was only ordered to CONSIDER pbls's claim, not to award anything, just to consider their motion.

We considered it, and you get nothing.

If there are any additional assets, bankrupcy will be denied, and all the unsettled lawsuits will proceed.

There is no way out.