I'm not laughing ... a Chapter 7 is asking for liquidation, which would wipe us all out. It is crucial that Mitchell 3 and 4 produce revenue at this point. We can always bring a motion to transmute the bankruptcy into a Chapter 11, asking the court to grant us a reorganization, permitting us to possibly deal with some other outstanding debt problems which none of us are privy to. I don't know who these people are, or if they are holding "judgments" from some prior litigation. I'm hearing (on this board) that some of these people are alleging fraud ... if so I'd like to read the complaint and see what the averments are. These can't be disgruntled investors ... who knows the facts concerning each of these plaintiffs??? Oiljob
Also, Bull, be very careful about getting involved. They might not have an attorney today but they might tomorrow. If they prevail on any cause of action there could be an award of attorney fees, which could literally wipe you out ... these guys charge $500.00 per hour. Careful what you stick your fingers into. If we could have this removed to a local small claims court that would be great (no attorneys allowed in there; that is a joke by the way) And be very careful of binding arbitration also; never agree to binding arbitration..LOL NOT. Oiljob
PS: By the way a cross-complaint in bankruptcy court is called an adversary action. Everything over there is expensive ... a word to the wise. I litigate for a living but I steer clear of bankruptcy court and all forms of federal litigation. Keep out of it ... you are a better asset as a witness perhaps; this is Treaty's problem and they pay attorneys to handle this sort of thing. Hopefully we can generate a lot of revenue and get this settled.
