Only thing your missing is that real people know that they can never be sued for money that Smith is claiming beleive me these people spend 15 minutes a month on Smith they have bigger fish to fry.
They already know they will not get any money back from the WHKA and will have to spend another sum of legal but they will own the league one day soon. And after that they will pump money into it and partner with people that smith can not partner with to make it work. These guys have an open door everywhere in the world.