federal court update, page-12

what absolute drivell. You sound as though this case is a wham bam thank you maam. Not bludy likely. This will be fought tooth and nail on every point. Every comma and every full stop will be examined, cross examined and re examined. There a long long long way to go.

All the evidence has not yet been filed. only last week we are still getting affidavits from the plaintiff being filed in court. Each of them are entitled to a reply and rebuttal. The court's processes are excruciatingly but necessarily long tortuous and thorough.

the interlocutory applications have not yet begun - that might occur this year.

Then there may be appeals on interlocutory decisions by any one of the myriad of parties to the case.

We won't see the substantive case argued until well into 2009-2010 or maybe later.

And then we have the awful spectre of the plaintiff probably not having enough assets to pay for their own legal costs nor enough to deposit in court for all the defendants' costs as well - just in case chm lose then go bankrupt.

Here is a challenge to any chm shareholder: If you have so much faith in the chm case which one of you is prepared to offer a personal guarantee for the legal costs? None of you will.

Even the directors will not front up with their own money as personal guarantees.

Certainly it looks like chm solicitors, AH, have decided that cash in the trust account is preferable to chm shares and options. Smart thinking AH. Tough world for chm.

So we can expect chm to be trying [hoping] to get their sp up over 20c so that they might have a credible chance of raising cash. Not likely in this market.

Trouble with chm: its all or nothing and loss means literally nothing and stoney broke - kiss your hard earned bucks goodbye.

Don't forget litigants have appeal rights so i cant see this ending for many many years.

Have a look at the shovelena [spelling may be wrong] case. It was also a simple case of who had the rights - years and years and years and then they still lost.

Don't hold your breath for any early settlement or quicky judgement. Its not on.