Judge Martin found both Vango's conduct in 2016, and Vango's conduct in 2017, to be breaches of the ROFR.
Judge Martin found that Northern Star would have been entitled to relief for Vango's 2016 breach, BUT did not find that Northern Star's chose of action (opportunity to take action) was assignable to Superior. Thus, Judge Martin ruled that Superior was not entitled to injunctive relief for the 2016 breach.
On the matter of Vango's 2017 breach of the ROFR, Superior owned Plutonic at that point, and Judge Martin ruled that Superior is entitled to injunctive relief for Vango's 2017 breaches. That includes a permanent (including future) ROFR on any action Vango takes to sell the tenements, a 50% earn-in on K2, and a requirement to pay 80% of Superior's court costs.
I think we can get a sense, from the above, what's going to happen on Monday, in the Zuleika case - which is much more straightforward and in front of the same judge. That's why the (more complex) Superior matter was scheduled first.
VAN Price at posting:
3.6¢ Sentiment: Sell Disclosure: Not Held
