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mvstar

102 Posts.

11/01/17

10:01

Post #: 21810929
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Originally posted by Successwillcome ↑

Then we have the unknown.

It is the issue with the advisers on the Quindell deal. Are we going to sue those advisers for negligence?

If negligence is pursued and proven it has the potential to run into a damages bill of hundreds of millions of dollars.

Are we shareholders sitting on a goldmine we are unaware of?

I read the below report (last paragraph).

http://www.legalfutures.co.uk/latest-news/slater-gordon-bullish-progress-uk

"Mr Skippen was coy about whether the firm would also sue its advisers on the Quindell deal. “With legal proceedings on foot, I am restricted in what I can say. What I can say is that the… acquisition due diligence was extensive and the company engaged highly experienced external advisers.”

It is anyone's guess what Mr Skippen meant by that comment. It could mean that we will take the advisers on in due course or that we were happy with the due diligence being provided by the 'highly experience advisers'.

If the SGH board decides to proceed with this and we can prove due diligence negligence by our acquisition advisers then hundreds of millions of dollars could possibly be coming our way.

An interesting side step from this is that (working from memory) the two minor banks that sold SGH debt in the later part of last year were involved in the due diligence process.

Was that why they had to sell that debt? Conflict of interest? (I think that is what Dr Who made some speculations about recently - again working from memory).

All speculation I know.

On balance I would say that we may be sitting on a goldmine here.

The future will tell.

Patience is the key

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I some how believe it is likely in the major lender's interest to see SG suing these advisers too.

SGH Price at posting: 30.0¢ Sentiment: Buy Disclosure: Held
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50% gain in two and bit sessions, page-80

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