SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : ATPG Shareholders
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Roman Gelsi who wrote (3144)5/9/2013 11:01:04 AM
From: silkscreen121 Recommendation  Read Replies (1) of 3620
 
The increasing value argument put forward by the increasingly gormless Equity Committee is obviously fallacious and the Judge will see through it in a heartbeat. Production data can increase the value of an asset if it is good, but it can also reduce the value of an asset if it is bad. You can't just assume the production data from Clipper is going to be good just because you want it to be good. Well, you can, but it's a piss poor argument.

BP's argument is much stronger. The ATP shell would undoubtedly be administratively insolvent and hopelessly incapable of meeting its P&A obligations. I think that alone ought to be good enough reason to reject the sale. We'll see. Of course, now we have to wait another week! It's just one delay after another with these guys. The bastards will be late for their own funerals, that's for sure.

One last point, BP is making a spirited defence of its ca. $10 million claim against the estate, and they back it up with voluminous documentation. Imagine what they are going to do to ATP's bogus $3 billion lawsuit. They will bury you in so much paperwork, it'll take a 100 years just to read it. And when you have read it, they'll send you another 100 years worth. So let's hear no more about it. ATP's case is flimsy at best, and BP is not going pay out one dime more than it has to.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News