Ridiculous, isn't it? Why couldn't both parties just accept...

Ridiculous, isn't it? Why couldn't both parties just accept their share of the blame in the first place and move on? It reminds me of the burglar who injures himself breaking into a house and then tries to sue the homeowner for providing an unsafe workplace.

It's pretty obvious that:

1. Sedco couldn't fulfill the requirement regardless, and;

2. Nexus didn't follow correct procedure or provide a reasonable time-frame for cancellation.

So now we have the Federal Courts involved. Legal costs will continue to pile up, both personal and company reputations will be damaged or lost, and shareholder value will be eroded even further. In legal terms "injuria non excusat injuriam" should apply, which roughly translates to "one wrong action does not excuse the other". It's hard to imagine that a judgment will be found in favour of either party i.e. they're BOTH guilty!

The scary thing is that they both seem to believe they are in the right, suggesting that they would do things exactly the same if the situation were ever repeated.

tantum Legisperitos vincent