SF - I think you are right. MXC Derma has its headquarters in the UK as far as I know - maybe someone can verify that - so that would make the UK a logical place - the deal was between MXC Derma and VC as I recall.
GBP625 is just over $1.1mil Australian. That seems more to reflect the original $1mil deposit rather than the $4mil contract. I am surprised MXC is settling for that lower figure.
I can surmise that the two parties have effectively agreed on the amount and that the case will be sorted out quickly - maybe to move on and avoid a protracted and/or costly legal game.
I suppose $1mil is one mil and MXC wants as much cash as possible - still a bit puzzled by the value though.
Ann: Legal Proceedings Commenced against Varm Cosmo, page-66
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