Kherson, you and I are in agreement on one point; if it is determined that there was indeed fraud, then yes the legal system will deal with all involved in the fraud in due time.
I truly believe Poseidon will survive its current transitional state, and I do not believe it will have a significant impact on overall equipment rentals or equipment utilization rates, what will be severely strained is the existing recievables pool as clients often can sence that payment negotiation has suddenly shifted in their direction. Many, but not all will take advantage of PSN's strained position in the marketplace to stretch out many of the payments to the breaking point. A strong manager can counter that risk by uilizing contract remidys listed in most boiler plate rental agreements. Contractual remidy's should and most likely do include removal of the rental asset, litigation, and or leaning the property in question. It will depend on the initial contract terms that were part of the PSN equipment rental agreement. Unfortunately, thus far I have not been able to obtain a copy of the boilerplate contract currently in use by PSN. Given managements prior industry experience in the oilpatch I am confident that the any contracts allows for sufficient recourse in the event of contractual default in payment.