SP1 0.00% $1.07 southern cross payments ltd

Payment, page-87

  1. 782 Posts.
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    Third way?
    1. Run the case that has been so robustly put forward and pursued (from memory we're already up to a 4th Further Amended SOC).
    2. Obtain a judgment in favour of the Applicants in damages to be assessed. Won't be anywhere near $500M, but it never was. Most would settle for a fraction of that if only to send a clear message to the Respondent.
    3. Costs then follow the event on either a party/party or indemnity basis (not sure if a Calderbank or Offer of Comp has ever been served. If not, why not?).

    That probably covers it. I'm sure the shareholders who have suffered through this calamity would prefer to go down swinging than capitulate at the 11th hour.
 
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