This is from the initial proceedings with Macwealth relating to subpoenas (which was won by Macwealth):
These proceedings concern (1) a Letter of Understanding dated 26 October 2018 between the plaintiff and first and second defendants by which the plaintiff agreed to invest the sum of $10 million in the first defendant and (2) a Deed of Acknowledgement entered into on or about 3 June 2019 between the plaintiff and first, second and third defendants by which it is said the defendants acknowledged the amount outstanding under the Letter of Understanding and agreed to provide guarantees in respect of the repayment of that amount. A critical issue in the case is whether, on its correct construction, the Letter of Understanding provided for a loan of $10 million that was repayable with interest or provided for an investment of $10 million which was repayable early if certain conditions were satisfied which have not been satisfied.
So the directors of IGE guaranteed repayment of the loan from Macwealth, for what it is worth.
https://www.caselaw.nsw.gov.au/decision/5e859ee9e4b0a854e03ea114
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This is from the initial proceedings with Macwealth relating to...
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