Ann: Appointment of Receivers and Administrators, page-104

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Navarone

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05/09/23

08:10

Post #: 69730439
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Originally posted by TerribleTadpole: ↑

This is pure speculation on my part, but I reckon the whole Ebtec renegotiation went something like this:
Ebtec: The date's approaching for the next progress payment. Just checking in that you're all clear on that.
Jason (one of them): How about you make some progress first and then we can talk about payment?
Ebtec: We're doing everything we can and it's costing us. If you don't pay we stop work. It's in the contract.
Jason: If you stop work we'll sue under the guarantee. That's in the contract too!
Ebtec: If you sue us, we're counter-suing for... we'll think of something. You'll be tied up for years!
KLL board: Gosh! [or a phrase to that effect] If this all happens, it's receivership for sure! Jason, fix it!
Jason: Okay, forget the guarantee and the set payment. You do "best efforts" and we'll pay time and materials, how about that?
Ebtec: [hiding gleeful astonishment at getting out of jail free] Hmm... we'll need to think about that. [2 seconds later] Deal!
KLL board: By jingo! [or similar phrase] That was close. But we're all good now... so why is the back of my neck tingling...?

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Phone rings: This is the NAIF here, F that, we're out!

KLL Price at posting: 2.5¢ Sentiment: Sell Disclosure: Held
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Ann: Appointment of Receivers and Administrators, page-104

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