Sinclair

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  • This is a claim of excessive dividends
  • The creditors would not like this because then it is less likely that they would get paid.
  • The shareholders didn't want the money paid out in dividends because the dividend tax rate is high and they rather get capital gains.
  • There is another claim of rights of corporate opportunity
  • The third claim is simple self dealing (the company is forcing the sub to pay late so it gets more interest payments.)