Except the car was not stolen. The car was lent.
Even if CHM get through the next few years and actually win then the issue becomes the remedy to be ordered by the court.
Under these circumstances where some repayment has occurred AND THAT REPAYMENT HAS BEEN ACCEPTED by chm, the remedy will be the repayment of the remainder of the money not yet repaid plus interest.
The importance of the acceptance of a repayment by chm is that they have, by accepting some repayment agreed that the money was a loan and NOT AN INVESTMENT. Once accepted they can't in equity try to change the nature of the transaction to enrich themselves.
This is why the chm liquidators did not pursue the case. It would cost more than it was worth. AND This is why the solicitors AH and their instructed barristers have rejected the options scheme as payment. The shares may be worthless under these circumstances.
Once the remedy becomes obvious to the general population it becomes clear that there is little to be gained from such litigation.
And even if chm win they may still pay mmx court costs if an mmx offer is approx equal to the damages and thus chm have wasted court time and caused unecessary costs to be incurred by defence.
I expect chm to try to raise some cash to continue their fight. However, they are unlikely to succeed because they may be obliged to disclose to the public any legal advice they have received on the remedies that a court is likely to order. Without such disclosure their potential fund raising may be illegal.
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chimeric therapeutics limited
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