As I see it the NSW gov't has a fight ahead of it on several grounds; not the least against precedent !!!
Servants of this government and of those who elected it, have been found by the courts already, to have acted UNLAWFULLY in the discharge of their duties, thereby causing disruption and damage to the business activities and reputation of Metgasco.
This is a listed company whose shareholders' funds (some $120m+ of them), have been gainfully spent identifying and proving up valid resources. Resources whose further development only stands to benefit the country.
This precedent, argued and proven at law AGAINST the government, would be weighing heavily from the outset on its own lawyers should they be required to defend claims from outraged shareholders for compensation truly reflective of the damage done.
The Baird government and those seemingly incompetent officers involved in this fiasco would be putting their heads on the pillow each night praying that Metgasco be wound up or operating well outside NSW borders long before campaigning begins for the next state election.
Given the time already spent in court, and the subsequent judgement handed down in favour of Metgasco, keep in mind that professional litigants will be open to an approach from shareholders....and eager to run some figures in assessment of our chances.
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Gill, Henderson, Baird et al, this is far, far, far from a fait accompli.
MEL Price at posting:
5.6¢ Sentiment: None Disclosure: Held
