The AIG Interlocutory hearing is set down for 15 March 2018.
If AIG Australia are Noble's insurance company, then it would seem that Noble are attempting to have them listed as a co-plaintiff.
I'm no lawyer, so I don't know what this means, or even if this is the intention.
I'm only guessing that perhaps if AIG are accepted as a co-plaintiff then Noble can claim an insurance payout for their perceived losses. They might be happy to claim the payout and get this off their books.
I'm not sure, it's just pure speculation.
I also noticed on the 28 November order that KAB is still listed as being subject to a deed of company arrangement. So it would seem the current deed has not yet been terminated. I'm not sure what this means for potential tax loss write-offs though.
I just wish the judges and courts would have the guts to make a decision one way or another on who owns the project, and get it over with. It seems as though Van Heerdan and perhaps some other defendants will fight this to their dying day, for some reason, rather than getting on with their lives. I expect it has become a matter of principle to them now.
Gw
KAB Price at posting:
0.1¢ Sentiment: None Disclosure: Held
