I refer you to Page 51 of NKP's 2017 Annual Report re the $2.5m in dispute with "Okap Parties" ( Landau).
Funds owed ( Settlement and Release Deed) to NKP go back to 2014 or thereabouts.
NKP eventually decided to take legal action and attended mediation in the Supreme Court of WA on 3rd March 2017 and then 27th October 2017. I have been advised that the next court date is scheduled for 16th August 2018. Case number is CIV 2780.
Maybe WA shareholders could attend the court proceedings and report back what transpired?
Let's hope that a positive outcome results and that the case does not drag on for another year. The $2.5m would have come in handy when you consider that NKP had to secure a loan of $6.4m at 5% pa only months ago.
It is interesting to note that in the 2017 Annual Report no accounting entry ( Receivables) nor accounting treatment justification appears in the Accounts. Only a note explaining history of the funds owed and a statement that it is " too early to determine the likely outcome of the proceedings".
NKP.... a never ending saga.
