1. What might Stanley have meant when he said that by agreeing to “go quietly,” he provided a benefit to the company?

2. Stanley argued that he was not an insider because he was no longer employed by the company when the severance payments were made. How did the court respond to this argument?

TransTexas Gas Corporation was engaged in [the] exploration, production, and transmission of oil and natural gas. In April 1999, TransTexas filed for Chapter 11 bankruptcy protection. The reorganization plan provided that the company would enter a three-year Employment Agreement with John Stanley, Sr., the company’s founder. Stanley would serve as Chief Executive Officer and be one of the five directors