Replies to post #55859 on Treaty Energy Corp. (fka TECO)

[investtoski]

Kind of like saying we stuck oil in Belize when the well isn't even functional.

[SmackDown]

No it is not misleading and in an Involuntary Bankruptcy the first burden of proof is on the Debtor, Treaty Energy Corporation to prove they do not belong there. If they do not file a motion to dismiss stating why and asking for a hearing the liquidation will begin. The court has jurisdiction and it started on May 7, 2013. Of course Treaty continues in business until a judge makes a determination but the petitioners have dibs on anything Treaty makes, if Treaty cannot get the bankruptcy dismissed. Think about it the word "DISMISSED" itself demonstrates that Treaty is now under the federal bankruptcy court's control.

This is not a civil complaint (like the ones TECO and associates have thrived in) it is a federal bankruptcy filing. The debtor (TECO) has to act now by a Motion to ask for Dismissal and then later there will be a Hearing whereby they will have to show they are paying their bills as they become due, that they are solvent, that there was no fraud, scams, tricks etc. and that they are a viable business concern if it is to continue. These are my opinions. SmackDown