The great irony is the Board / Management are spending $1.5m of...

The great irony is the Board / Management are spending $1.5m of shareholder money on the arbitration.
Their objective is to gain full ownership of the JV and go into significant debt for a small company.
They think spending the $1.5m and going into debt would justify the outcome, full ownership of the JV.
But you look at the posts here and almost no one wants that.
Shareholders here want a return on their investment.
But management in particular aren't aligned with that, they want the gravy train to continue.