The court case has been heard and is awaiting judgement.
TBR/RND has had no option but to commence proceedings. These cases can fall either way, but I think that this case was just the teaser.
It enabled TBR/RND full discovery of the documentation/conduct NST refused to declare to their minority JV partners. I think that this was the real reason for the court case. Armed with this TBR/RND will consider launching into more substantive litigation citing NSTs oppressive and unconscionable conduct. NST will likely play a bluff defence until TBR/RND box them into the corner.
Billis has shown he is a strategist and will not pursue litigation without having all of the cards in his hand. The TBR/RND management are also tight arses and won't waste shareholders money on lawyers. I'm waiting in anticipation of the judgement, and then to see (whichever way the result falls) what happens next.
If NST plays fair all this disappears....if they don't they may regret doing so!
The court case has been heard and is awaiting judgement. TBR/RND...
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$4.65 |
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Mkt cap ! $243.9M | |||
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| TBR (ASX) Chart |