mystery banker, page-8

Well said, Nockname. Optimix - mere formalities of failure? The agreement allows IFCA to walk away at will. Everyone know from the court case that the CMQ announcement on the SA contract as unconditional, not financed by CMQ and having achieved the price is a blatant lie. This fact contradicts condition precedent clause 2 m) allowing IFCA to walk away at will.

Cant help wondering why the agreement has no flexibility to allow CMQ to pay the bondholders a single $ more than $60.0 million redemption. The bond holders have to forgo interests and legal costs despite wining the Supreme court case. Remember if judgment is handed down on or before 31 May, IFCA can walk away. Who is to say judgment will not be handed down soon? This appeal case was heard on an urgent priority basis with the expectation of a quick judgment.

There is as much intrigue as substance in this deal. Certainly Optimix can thank David Williams for refusing to negotiate with the bond holders and selling down the road to IFCA.