Dividend cut--maybe--out of business by JUly--NO! Leon Cooperman would not buy it if he thought ETP was going out of business in a few months
My understanding is that The general Partner owes the IRS money and does not have enough cash to pay the taxes--only other asset is the linn, the limited partnership. If they convert to a corporation, they owe more taxes--I cannot see much other alternatives than BK
My feeling is that with this court ruling regarding SABINE, could not this go the other way? If oil/gas prices go up, couldn't the midstream companies break it and raise prices?
A company called UPL was selling for about $.70 and got an extension from lenders on terms of loans. I think the market thinks that other energy related companies may get better terms because there is a perception that oil has bottomed
The General Partner owes the US government taxes and does not have the money to pay them--only asset is the limited partnership so BK is pretty clear
What I read is that the general partner owes the USA taxes and does not have enough cash to pay the taxes. LIne, the limited partner, is their only other asset So, it looks like BK is it