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Return of Subpoena which I assume is Brewers given his failed...

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Kiwi67

5,657 Posts.

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21/12/16

20:39

Post #: 21498752
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Originally posted by Kiwi67 ↑

So my reading is that this Judgement is about Brewer trying to have subpoena's served on him to produce doc's be thrown out.

The subpoena was issued prematurely

The subpoena is not sufficiently precise

The basis of assessing relevance is misconceived and the subpoena constitutes a fishing exercise.

The case

(h) NRL and Noble advanced funds pursuant to the Facility Agreement by way of six drawdowns between 26 July 2012 and 14 August 2013 totalling $5,950,000.00.

(i) Kaboko breached various of its obligations, warranties, undertakings and representations made by it or owed to NRL under the Noble Agreements.

(j) The defendants breached their various duties as directors and officers of Kaboko, which they ought to have known would cause loss to Kaboko, and did cause loss to Kaboko, by failing to keep books and records and comply with applicable accounting standards.

(k) In breach of the duties owed by them to Kaboko, the defendants failed to use the funds for the purposes permitted by the Facility Agreement or alternatively failed to keep proper books and records regarding the use of the funds and/or deploy appropriate controls and systems to ensure that its subsidiaries used the funds for a permitted purpose.

(l) Contrary to representations made by Kaboko as well as the second, third and fourth defendants in a letter to Noble dated 11 January 2013, Kaboko did not hold all mining licences referred to in the Noble Agreements, which the defendants ought to have known constituted a breach of the Noble Agreements and would cause loss to Kaboko.

(m) In breach of their duties to Kaboko, the first, second and third defendants caused Kaboko to, in turn, breach its obligations pursuant to the Facility Agreement by causing Kaboko to sell manganese ore to third parties.

CONCLUSION
36 As the subpoena had been complied with and the subpoenaed documents were apparently relevant, inspection was granted!!!

Oh poor Mr Brewer has to face the music!!

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Return of Subpoena which I assume is Brewers given his failed attempt to stop it. 10 Jan 2017

KAB Price at posting: 0.1¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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