PGI Energy, Inc. (PGIE)

[dcool1]

i think pgi's going to get out of the law suit. certainly the contract has some protection for them if they can not produce. mczeal's partner will have to file for an abatement of the default and then file their answer to the compliant. most likely it will then be settled out of court for some kind of monetary settlement. mczeal probably knew this and purposely allowed the case to go into default in order to buy some time.

also, this is a cross state line venue, so in order to enforce the order, they would have to file with the texas courts for a judgement in order to seek any of pgi's assets.

pgi's assets are being held within a holding company, which is separate from all of its other individual companies which are actually doing business. i highly doubt anyone could touch those assets.