OBL 7.92% 93.0¢ omni bridgeway limited

Ann: Australian Case Update - Wivenhoe, page-20

  1. 205 Posts.
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    Official mediation period didn't result in a settlement but instead resulted in a delayed trial start date. Impossible to know what is going on behind closed doors but IMO, one party (or both) trying to buy some extra time to negotiate themselves into a larger/smaller settlement.

    https://www.brisbanetimes.com.au/na...ayed-until-december-2017-20170917-p4yvyh.html


    Indirectly related - I was involved in a litigation where settlement figures were thrown backwards and forwards from the first week of discovery all the way until the 2nd day of trial. The case had effectively been lost on that 1st day with the judge ruling in our favour on a piece of the case that accounted for the vast sum of $$ claimed.

    Upon hearing that a new settlement (much lower and back to the original offer in week one) offer had been tabled, the judge adjourned for the day and ordered the court room cleared of all documents. He had assumed that the plaintiffs would take the cash and run considering their case had gone from several $'000,000 to several $'00, 000.

    They didn't and the trial proceeded. All the docs had to brought back to the court room and sorted/organised again. Everybody thought it was over but the trial went on for another day and half before they finally took the cash (the same cash mind you).

    Talking to my lawyer afterwards about how it all unfolded and he confirmed ours was highly unusual towards the end but quite typical up until then. The term 'Court steps settlement', is part of the legal vernacular because of how often a settlement is reached on the morning of the 1st day of trial.
 
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