"We expect the appointment of a receiver to be voided by way of a court order," Chameleon's managing director Anthony Karam said in a statement to the exchange yesterday.
A spokeswoman for the company told The Australian that the agreement with the litigation funder had been terminated on Monday. But this has not yet been disclosed to the market. "The strategic alliance with Cape Lambert triggered an automatic termination of the funding deed," the spokeswoman said.
Glyna did you know about this? 20 Tensions escalated in 2010 when oral settlement discussions took place directly between Murchison?s solicitors and the Funder. Apparently Murchison indicated to the Funder that it might be prepared to pay a particular amount in settlement which CHM regarded as inadequate. The parties had different views as to how any settlement proposal from Murchison should be handled.
CHM Price at posting:
9.2¢ Sentiment: Sell Disclosure: Not Held
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