Jan. 12 at 11:28 AM
$WTI So, if Penn issued 26 collateral calls in the time period of alleged collusion, how many more from USFire, and how many from the behemoth Lexon? We are proably talking at least a hundred.
It's going to be very interesting to see the time line of the surety meetings (both public and private) where they discussed methods to raise their revenues, vs. the number of collateral calls. I strongly suspect nearly no activity in the months before, and groups of spiked amounts thereafter by all three companies.
That alone proves nothing, but with the underlying documents that discuss revenue raising methods -- and the simultaneous issuance of what I suspect are like-sounding letters stating "you are in financial distress", with very little justification --- will go a long way to furthering our case.
After all, the sureties originally claimed they could make their calls on us "for any reason, at any time" but when pressed then said "you are in financial distress". Let's see if that was a theme.
