Things are far from over Para 30 in the Judgement:
"In evidence was a letter dated 24 September 2013 signed by Mr Joseph Gutnick as director of Axis and addressed to the directors of Merlin.
The letter contained a personal undertaking from Mr Gutnick in the following terms:
'In the event that Merlin Diamonds Limited requires repayment of the receivable amount owed by AXIS Consultants Pty Ltd of $6,511,675 at 30 June 2013 and AXIS does not have funding available, I will provide financial support to AXIS to enable repayment of the amount owed to Merlin Diamonds Limited.31'
The undertaking may provide an avenue for Merlin to recover some or all of the amount owing by Axis from Mr Joseph Gutnick personally, but the evidence is insufficient for any conclusions to be reached in that respect."
MED Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
