I am not sure if this was a reply to me, but I was just curious in how you interpret the GLBSE TOS because on a discussion on the interpretation of contracts listed on GLBSE you seemed to agreed with the statement that things not in the contract can still be done.  Things listed in the contract allow for one of the parties to 'reserve the right' to do something, but not necessarily only do things that are listed in the contract.  By this interpretation, GLBSE reserves the right to do any and all things in its TOS.  There are also implied agreements when using the GLBSE system.  No where in the TOS says that GLBSE will list a security after the fee is made, but they do it.  By having the authority to list a security, GLBSE also has the authority to remove a security from the exchange.

Anyway, I would also argue that whatever is said in a contract or TOS may not always be the right thing to do.  As you may remember with our contract dispute; I took responsibility for my badly written contract and paid out of my own pocket.

In my opinion the right thing to do is to allow the securities to be relisted, allow a buyback of all the securities at whatever value was agreed to, and then remove them after all accounts have been cleared.