PE Preliminaries, page-23

The facts are plain.
COP issued a PE notice. FAR claimed it was not compliant.... [ irrelevant now though ] WPL say PE rights don't exist if you buy the holding company.
COP now say PE rights don't exist, their own SEC filings reflect this change of heart [ see below ].......from sold 35% to sold the holding co... [ I suspect after talking to WPL ]......this is the reason FAR are seeking declaratory relief via arbitration and not a decision on a compliant notice or not.
Do FAR still have PE rights or not is FAR's question.
If not put a full stop in.
If yes then COP still own the 35% and FAR will have the right to PE.
The deal will be deemed illegal and as such the government can cancel the lease as part of the PSA, all arbitrated decisions are binding. DB