AGS 0.00% 17.5¢ alliance resources limited

wllmtrish,Thanks for posting your email and the response from...

  1. 432 Posts.
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    wllmtrish,

    Thanks for posting your email and the response from AGS.

    My observations:

    You asked a very specific question: "Is the M&D Conduct charge part of the conditions precedent in accordance with a settlement of the NTMA?"

    You were given a very specific answer to that question: "The M&D conduct is not part of the NTMA conditions precedent."

    Importantly, John Griffin emphasised that, "OK, as long as (1) your contribution informs readers that the information you are conveying is based on responses to specific questions you forwarded by email to Alliance Resources". What raises my eyebrow is his reference to "specific questions". It seems to me that he doesn't want a situation occurring where it is alleged he misled you or provided false information. He made the point that he was merely responding to your "specific questions". He also wanted any editorial comment (your interpretation of what he said) separated from his responses.

    Just a thought...lets say he knew what you really wanted to know (was the M&D C proceedings subject of the settlement, not the conditions precedent) but did not provide that information because you did not specifically ask for it. He could have known that you would INTERPRET his response in a way that answers your intended question. In those circumstances, he may have sought to keep the actual questions/answers separate from your misinterpretation/editorial comment, that is, that the M&D C proceedings are not subject of the settlement.

    The "conditions precedent" are things that need to be done before the settlement becomes binding on the parties. Strictly speaking, the "conditions precedent" may not include anything to do with the M&D C proceedings but the M&D C proceedings could still be the subject of the actual settlement. Remember, the "conditions precedent" are not the actual terms of the settlement, just things that need to be done before the actual terms of the settlement take effect.

    The substantive terms of the deed of settlement may include M&D C proceedings. Its possible that the terms of the settlement include the discontinuance of the M&D C proceedings, which will occur after the other conditions precedent are satisfied.

    You didn't ask, "Is the M&D C proceedings the subject of the deed of settlement executed on 4 December 2011?" It seems that this is the question we are really wanting answered... That specific question could have produced quite a different response...
 
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