In november 2012,RDS announced a payment of $ 76,641.00 to cover...

In november 2012,RDS announced a payment of $ 76,641.00 to cover legal expenses f.Mr.A.Ailakis,incurred as a director of RDS.They also lodged an insurance claim w.QBE to cover the expenses.We have not been told if any further costs have been covered by RDS,but have unusually high cost paid to run office.
On 14 december 2012,the district court awarded damages to the plaintiff of $ 750,000.00 + interest from july 2007 + cost-
a total of apprx.$ 1.3 mill.!
The court also stated that it considered the case as a "private"matter not related to Mr.Ailakis's work as a director of Redstone Resources.
This raises some interesting questions:
Did Redstone cover expenses f.Mr.A.Ailakis and for how much?
Did Redstone cover expenses f.Mr.R.Ailakis and for how much?
Do Redstone intend to recover the expenditure already given?
Redstone have an experienced lawyer as chairman.
How could he commit the company to pay expenses f.a director,when it was a private matter between two founders of the company?
Have RDS paid more than $ 76,641.00 since we have only been given details until 30/06/2012.The case ended in court in sept.2012.
It is clear to see,that RDS have changed their opinion from being totally committed to indemnify Mr.Ailakis until jan.2013.Thay then in the quarterly report f.the period ending dec.2012,lodged 01/02/2013,reserve its right and will not be making further payments.
The question is:Have the board comitted itself to the risk of paying the full amount of the verdict without getting anything refunded from QBE ??
I hope the board voted on this issue without Mr Ailakis's presence.
The risk to RDS is,of course,that no money remains to cover drilling expenses!
I wonder what Argonaut is thinking of this development.
As ïfyoulikepinaciladas"and "Makavel"say in their blogs-get your facts right on this company.There are plenty of companies with interest in copper with better management,better projects and more money in the bank.
RDS are spending a high proportion of their money on office related matters.We still have not heard of any plans f,drilling despite being told in november it was under immediate consideration !