i have read a number of posts taking about greg barnes and other legal cases which have nothing to do with the london case or ggg. i read that london only concerns the westrip 39% interest.
The relevant facts are these
1 The group ggg is supporting were denied permission to proceed on 2 of 3 points they wanted to go forward on against westrip. they lost and must pay costs.
2 they were also denied permission to go forward on the 3rd point. westrip's board informed the court that they would examine the evidence brought to the hearing and take advice on said evidence and the judge reserved judgement pending that process.
3. the australian actions, brought by westrip against ggg, do very definitely have the potential to affect the 61 % interest held by ggg.
4. the indemnity given by ggg, contrary to the announcement ggg made to the asx, committs ggg to pay all costs and damages with no limits. also, rather than being able to review their committment, as they told the asx, periodically they are fully committed under the indemnity for one year.
Does anyone out there see any upside to this mess that ggg management has created and must pay for?
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- ggg loses in london and may well lose all
ggg loses in london and may well lose all
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