It must have been demonstrated that the emails did exist and therefore argued that the Court needs to test their validity.
The broker reports I have seen appear to be of the opinion that the suit has an incredibly low (but non-zero) chance of success.
So what could the outcomes be?
1. Case dismissed.
2. Partial win for MZN - KDR keep everything but pay costs and some penalty for misleading MZN in the emails (I feel unlikely due to the 7 month lag).
3. Win for MZN.
In the incredibly unfathomable circumstances that 3. happens (or even 2) I can only see the next step will be a long and drawn out appeals process. And the thing is there will be repercussions throughout the industry and the ASX itself.
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Caveat: not a lawyer, just some guy on the internet who would much rather drill rigs, excavators and trucks do the talking rather than lawyers.
KDR Price at posting:
48.0¢ Sentiment: None Disclosure: Not Held