I think EGP was a bit rosy eyed out the litigation from memory.
If I can think of a positive from this announcement its that I assume this brings forward the property transaction as they may have been waiting for the litigation outcome.
i.e. if we win we try to develop or value add to the property and sell it for twice the price in 2 years.
If we lose the case we need to exit the property for any reasonable valuation before SIT gets hit with the fine, declared insolvent and loses title to the property under the lease terms.
If there is any reasonable offer on that property I assume this flushes it out but all we can do is wait and see.
Ann: Federal Court Judgement, page-6
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