Of course Jahelka wants to be paid now. But given that he is an unsecured creditor—he has no ability to enforce that if FLG files Chapter 11. The argument about FLG or Winkoff being over leveraged is irrelevant. He controls 100% and can put as much leverage on the company or increase salaries or dividend $$ in any amount as he wants. There are no restrictive covenants in the consulting agreement to prevent that. So Jahelka can negotiate a settlement—or—in an extreme case-/FLG’s owners can file Chapter 11 and Jahelka has to wait for another court to divide up the assets. But keep in mind—businesses can operate while the corporation is in Chapter 11. Happens all the time. So the tournaments and club teams can go on as if nothing happened at the corporate level. Parents shouldn’t be concerned because nothing changes operationally. Jahelka may not like it—but that’s how the our bankruptcy laws work. He could have negotiated additional protections in the agreement but he didn’t. | 
