This baseless case may be the thin end of the wedge.
You are a developer with an existing facility and your financier goes broke, cant meet payments under the terms of the facility and the project falls over.
Now is this caused by the borrower or the lender.
Now the problem is Wellington wouldnt care as they are spending PIF money defending action not there own funds.
Instead of coming in and working with the developers it was such a typical crash and burn attitude of someone like Hutson who is a lawyer.
Would it not have been better to have PIF JV with the developer on the project.
Instead Wellington has exposed the fund to a potential 168 million liability.
Nice one centurion
OCV
octaviar limited
