Ann: Update on MCC Action , page-3

No its terrible - it means there is no legal precedence for CFE's appeal against MCC's refusal to pay CFE $80m. Last hope is arbitration but its hard to see what legal obligation MCC have to conform with the Arbitrator - normally I thought you went to arbitration before going to court, not after losing an appeal. Your sentiment is buy - a bold move.

If I was MCC there's no way I'd be paying CFE for the junk out at Cape Lambert - they certainly got skinned on the deal.

Chickens coming home to roost for CFE.