Based on the current docket that seems to be the case but discovery can change things and both sides have been deep into that for awhile now. Note that the lawsuit involving Anchor Crude mentioned in the article(202275226 - GIBSON ENERGY INFRASTRUCTURE LLC vs. PERMIAN PRODUCTION PARTNERS LLC) is already going through undisclosed settlement well before its court date.
With Blackbeard still refusing to provide NPI calculations for even the quarterly deadline, which they claimed was their only duty, makes me believe that they are aware Argents claims hold legitimate weight at least in part. Money owed back to the trust for failure to pay is prime + 4 according to the conveyance and that should be applied if Blackbeard was purposely manipulating expenses. This could very quickly become a large problem for Blackbeard and NGP as the larger spending of 2024 audit is applied and a nice windfall payment for equity holders.
Any truth that the lawsuit isn’t being heard until 04/25?
Based on the current docket that seems to be the case but discovery can change things and both sides have been deep into that for awhile now. Note that the lawsuit involving Anchor Crude mentioned in the article(202275226 - GIBSON ENERGY INFRASTRUCTURE LLC vs. PERMIAN PRODUCTION PARTNERS LLC) is already going through undisclosed settlement well before its court date.
With Blackbeard still refusing to provide NPI calculations for even the quarterly deadline, which they claimed was their only duty, makes me believe that they are aware Argents claims hold legitimate weight at least in part. Money owed back to the trust for failure to pay is prime + 4 according to the conveyance and that should be applied if Blackbeard was purposely manipulating expenses. This could very quickly become a large problem for Blackbeard and NGP as the larger spending of 2024 audit is applied and a nice windfall payment for equity holders.
Thx for the update.