So in exchange for a clean break, JC kept the rev's and liabilities. Now I understand the contra account decision a little better; the numbers had to be accounted for in a memory box.

Punch Revenues stayed with Punch.

Your previous explanation makes more sense in this context.

The more we dug the more clear it became that the Punch name and the reputation of JC where both viruses we where better off without. So, rather then fight him in court and take everything from him, we agreed to the rescission. This let us cut out the infected part of the company and come out way ahead of where we started.

You must have an enormous amount of confidence in your contacts and new team. Look forward to the PR's.