As I understand it LOI's are generally non-binding and unenforceable but might have procedures in them that could be binding. But lets say SI gov did not follow the agreed procedures, that's still only a breach of contract and Smm can claim damages. But they probably knew that no damages would have been awarded because they would have fell down on owner support and therefore tried to litigate our little AVQ minnow until they gave up or ran out of funds...I am surmising. Unfortunately for them AVQ had some clever US hedge funds on their side who had no issues funding the litigation.
If AVQ can show that they have valid lease and owner support agreement in place and come out clean from a bribery/corruption perspective from all the evidence lead, then I think they have it sown up. Just my pennies worth again.
AVQ Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
