AVZ 0.00% 78.0¢ avz minerals limited

That's true only if it was specified in the SPA that the money...

  1. 238 Posts.
    lightbulb Created with Sketch. 368
    That's true only if it was specified in the SPA that the money is to be held in escrow if there's a dispute, that seems unlikely. They probably paid it to a third party to show good faith to the arbitrator, not because the had to. The DRC being as corrupt as it is, I would have thought keeping the money close would be a better option, but they didn't do that!

    "Good Faith: Keeping the returned funds in a separate account or an escrow account might demonstrate good faith and a willingness to resolve the dispute fairly, which could be beneficial in arbitration."

    Anyway this explains what happened

    As thelithium price rose Cong started to see, that the deal that he’d stuck was too low of a fee. He reached out to Nigel to alter the sum, but silence bestowed them,and the problems begun.

    Five months went by and to Dathomir's surprise, the SPAmoney turned up despite all their cries. They sent back the funds the very nextday, playing money hot potato to Nigel’s dismay.

    When the money arrives back inNigel’s account, he joined in the game and bounced it right out. To athird-party the money did flow, just go and get it Nigel told Cong with gusto.

    Well, the money sat there for a period of time, till someone piped up, well Imight make that mine. Did they paid off a judge or fake up the docs? Was it Cong or our lawyer, or some cunning fox.

    But honestly really is it such a surprise, that the money has vanished right in from of our eye’s. The DRC’s rated the most corrupt on earth, while Nigel and co ran this shit show from Perth.

    What a joke this whole thing is!!!
 
watchlist Created with Sketch. Add AVZ (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.