Ann: SML Announcement - Supreme Court Update, page-5

OriginallypostedbyHectorplains

KiaoraMajormoke...Lolatyour"firsttimeposter"opening.Indeed...butonly'here.'(IjustkeephopingforaFattiesreturn...Bestforumever.)That'sanicetimelineyou'veproduced.WhereIdifferfromyourselfandRogeristheassignmentof50-50outcomestotheCourtcase;thecompanyarenotregisteringthatlevelofconcern(seethelatestann.inparticularwheretheyopinethatthemarkethasoverreactedtotherisk.)Idoubtthespecificsofwhoexactlylodgedtheappealetc-areworthgettinginto.Unlessyoucanargueotherwise?Ngamihi,Hector

Yes HP. It will be great when Fatties return. No other option in NZ other than that North Korean run alternative. Kim Jong-un has been very successful in getting his relatives a job running an internet forum

The reason for the timeline is to shed the light of day on the risk which is being grossly under stated by SM1. I suggest people look really closely at the time line and think about it. There is nothing positive for SM1 in there. not a single thing

As for the 50/50 out come that has changed and is now much worse for SML.

What SML hasn't told the market is they (Stonehill) have lost round One at the Supreme court.

Round one is getting leave to have an appeal heard on the papers. That is the 3 judges look at the case and if one reckons there is an argument they will allow leave. That has not happened which means 3 judges are not convinced on the face of things. To put this in context look how Peter Ellis has recently easily breezed through the process to get his appeal heard. His death now aside)

The Appeal is not quite dead in the water so they have allowed brief oral presentations by the parties. These are brief - its not days of legal argument. Stonehill have to really hammer their point home in a much better way then they have already done on the papers. The only positive is Stonehill just have to convince one judge - you would think that wouldn't be hard. But the three haven't been swayed so far.