KDR 0.00% $1.90 kidman resources limited

Court proceeding reports/posts collation

  1. 1,095 Posts.
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    DAY#1

    Just slipped out of court
    You should see the poor performance from marindi unbelivable !!!
    I wish i had a camera [email protected]!!!
    Post #: 24968670

    Legal team
    Man they said he was the best
    Well that is not today !!!!!!!!!!!
    Blaaaaaaaaa
    Judge eating him !!!!!!!!!
    Post #: 24968880

    10 min break. Too much to write out. Bennet ended his opening. Judge was sceptical on a number of occasions. Bennet rambled... a lot. Key takeaway: Judge said the HOA is the skeleton. Without it there's no flesh. And said the firest question is contract or not. If ci tract then can discuss laches and unclean hands.
    J challenged Bennet a number if ties bit that's probably SOP.
    Back.inside.
    Post #: 24969381

    The good point for me was KDR lawyer pointing out (with Treacy's acquiesence that the day before taking action against KDR, MZN sent a demand that KDR accept a deal or else. But this deal wasn't the same as the earlier deal apparently. (As I understood it).

    Some.correspondence was sent marked as "without prejudice" meaning it couldn't be used in court. Treacy seemed a little unaware of that.

    Treacy admitted he employed a lawyer because he thought it woukd be difficult to enforce any agreement.

    Treacy admitted he knew KDR was spending a lot of money on the resource and their share value had risen significantly but didn't take any actions.

    KDR lawyer pointed out under Listing Rule 3.1 MZN couldn't issue the $170K of shares as they'd reached their capital limit although an EGM could resolve that.

    The judge said early on to Bennet that the contract is the skeleton. With no contract there's nothing to hang the meat on... and gave a stern look. Bennet mumbled something non specific..
    Post #: 24972126

    Actually Eaton (sic?), the original MZN lawyer was x examined by KDR. He said he told MZN he didn't think they had a case. He had drafted the original HOA and had always contemplated that further negotiations were required. The KDR lawyer asked MZN's Chairman if he was aware that the draft HOA required at least 3 subsequent negotiations or contracts to be completed also. The Chairman seemd a bit unaware. He repeated a few times he'd skimmed the document without reading it fully. He said he left such details to the MD.

    PLEASE REMEMBER I AM NOT A STENOGRAPHER. THAT'S JUST HOW I REMEMBER IT FROM MY BRIEF NOTES.
    Post #: 24976128

    Ok everyone
    I will keep it simple
    Summary

    The Kidman lawyer 1 was amazing
    Kidman layer 2 new his stuff
    Mzn witnesses - were terrible witnesses
    MZN Lawyer - rattled / rattled
    I to felt sorry for him

    The MZN witness's the BODs did not know much
    Honestly it was like they dragged them off the street with no preparation and put on the spot

    I had to remind myself that this has been going on for nearly 7 months !!!!!
    Post #: 24976218
 
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