It's true. "The Johan" can't lose either way. In BK Court, he and other Notesholders have standing to claim payment of debts owed to them. And, TMPS common shares likely get cancelled. The last TMPS people who tried to renegotiate the deal with "The Johan" were forced to resign their seats on the TMPS Board of Directors. And, April 2018 will likely be a repeat performance.