BHP into 9/4, page-63

Mike R not sure if it work like this, there is a sale agreement between COP and WPL then FAR steps up wanting the same deal, I doubt that COP and WPL can say if FAR is buying the deal is off. I believe its as simple as COP handing over the information and FAR then has to purchases the 35% interest on the same basis as WPL. The arbitrator(or later a court) would demand the handing over of the information as currently required by the JV agreement.

There are legal requirements in both the deal between COP and WPL and in the JV agreement between COP, CNE and FAR. One legal requirement does not extinguish another, but the order in which they apply may be more important. It would be difficult to argue that the deal should fallover due to a confidentially causes as COP would have known at all time that they were required to provide the information to the JV partners. The solution would be to make the JV partners a party to the confidentially agreement therefore putting COP and WPL back in the same position, other than the JV partners knowing the full details of the deals which they would have a right to know under the JV agreement.

Have been on holidays for the last three weeks and only just got back so have no idea of what I have missed, most posters seem to be relaxed and in good mood which is reassuring and good to see.

DYOR

Zip