Plastic2Oil Inc (PTOI)

[the big guy]

His bankruptcy and his case against JBII are two different things and the presiding judge will see it that way. I would guess that he is claiming misrepresentation. Didn't he get the shares fairly cheaply, around .80?

Whatever the case, he would be claiming that he was misled into believing the shares would be worth much more than they turned out to be. This was in lieu of accepting cash for the media credits, which might have saved him from bankruptcy. Accepting the JBII shares was his mistake. It is a desperate act. Then he found his shares restricted until recently, and hence cannot make the capital gain he expected.

It strikes me as strange that he would bother while in bankruptcy, since bankruptcy equates to giving up. However bankruptcies can be reversed for a fee. Maybe he intends to win his case during his bankruptcy and then perhaps to get out of bankruptcy based on receiving the settlement...