calcifer

the best part of the ann about the mt mulligan case is the news that calcifer's lawyers are quitting.

losing your lawyers at this stage of a Supreme Court case is a disaster. it also makes it pretty clear that either the legal action or calcifer (or both) have some serious problems going forward.

Calcifer's claim about Mt M looks has always looked to be driven by a dose of remorse about selling Mt M to MNM before the recent increase in the value of black coal, and the interest in CSG projects in QLD. Tough. Selling something at a gross undervalue does not give you any legal right to do anything but cry into your beer.

Calcifer have been condemned for repeated failures to comply with court orders in other legal actions in Qld before. Their lawyers quit on them in that case as well, apparently because they were not being paid.

Calcifer have to decide in the next few days if they have a good enough case against MNM to pay a new set of lawyers to start from scratch.

The budget for that through to trial would be $300 000+

That's a lot to pay for a claim that looks more and more shaky by the day.