CTP 5.77% 4.9¢ central petroleum limited

joint ventures, page-80

  1. 2,793 Posts.
    yes rob, the door could or might be still open - if, that is, they have a case to start with

    what i was trying to relay above is the high probability that withdrawal from the MoU doesn't provide Advent with a sufficient 'cause of action' to bring proceedings, because a paramount commercial reason for starting with an MoU is to limit the legal rights each party has against the other for the duration of the MoU - as such MoUs typically only serve to outline a shared expression of the parties objectives that they wish to cement conclusively at a future date - through the use of a JV agreement or farmin agreement for instance - until the parties subsequently execute a JV or Farmin agreement, then there is usually little one party can do to the other if one of them withdraws from the MoU - in other words, if one party chooses not to go with the intent of the MoU by not subsequently sealing their hoped-for relationship by an iron clad JV or Farmin agreement

    still waiting to hear from Julian otherwise

    good luck

 
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