It does not look good for BCC (even allowing that this is from TNE's side).
Looks like the Mayor has been badly briefed by those wishing to cover up (or not knowing about) BCC's poor performance during the contract.
If TNE's assertion that "BCC is continuing to frustrate the contract" is shown in time to be true - this is very very bad for BCC - i.e. bad faith, egg-on-face, $$$lost, reputational damage, and media picking the bones of the carcass.
Someone in BCC had better:
a. be absolutely certain of their contractual and legal position; or
b. negotiate a solution quickly.
Cos, right now, it looks like ratepayers, not TNE shareholders, will suffer, and suffer bigtime.
TNE Price at posting:
$5.43 Sentiment: Buy Disclosure: Held
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