Let's be clear - There is NO result for anyone at this stage and there won't be until the Supreme Court makes its' judgement on the merits of the appeal!! Anything else is just pure speculation. Indochine/Summit made their case in Court and apparently their lawyers argued well; however unless the Supreme Court bench somehow finds fault with the substance of the original National Court decision (and bear in mind that no new evidence is allowed within the appeal case), then chances for IDC and Summit are …. wait for it ….…. almost NIL!.
And yes, there's more...... If IDC/Summit do win their appeal you can be sure it's not the end of the matter. In fact a new round of litigation will start based on the original National Court decision being over-turned or placed on remand. This will again involve the Govt and the other parties who were negatively affected .... and given some of them will be liable for costs and potential compensation & damages, I imagine they will fight it .... which means that if the lower Court decision is over-turned then it'll be another 5 years of enriching the lawyers without actual progress.... yawn, yawn
IDC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
