SML - Synlait Milk Ltd

[Beagle]

think its almost certain they will lose and have to make compensation payout. the dude will make many millions lol

I don't think he wants a compensation payout. Just wants them gone. The interesting thing with this case is covenant law goes back hundreds of years and I think its highly unlikely the Supreme Court will rule against that and start a new precedent so on the face of it Synlait really do look to be in very serious trouble.

We know they've already tried to settle this and I am sure more than one offer has been made, but all their overtures have obviously been rejected. If you go back and read the various NZX releases from Synlait over recent times about Pokeno they talk about how we're confident this can be resolved, mentioned many times and lots of other calming words but all Synliat assurances that they have this in hand have come to what ? You guessed it Nothing !...and its down to hoping the Supreme Court rule in their favour. Sometimes people are too driven to grow and succeed and without proper governance and checks and balances they trip up and fall on their face and this is shaping up as John Penno's crowning disgrace. The board also sanctioned his approach so the rest of the board should also all resign if they fail at the Supreme Court.

[bull....]

I don't think he wants a compensation payout. Just wants them gone. The interesting thing with this case is covenant law goes back hundreds of years and I think its highly unlikely the Supreme Court will rule against that and start a new precedent so on the face of it Synlait really do look to be in very serious trouble.

We know they've already tried to settle this and I am sure more than one offer has been made, but all their overtures have obviously been rejected. If you go back and read the various NZX releases from Synlait over recent times about Pokeno they talk about how we're confident this can be resolved, mentioned many times and lots of other calming words but all Synliat assurances that they have this in hand have come to what ? You guessed it Nothing !...and its down to hoping the Supreme Court rule in their favour. Sometimes people are too driven to grow and succeed and without proper governance and checks and balances they trip up and fall on their face and this is shaping up as John Penno's crowning disgrace. The board also sanctioned his approach so the rest of the board should also all resign if they fail at the Supreme Court.

payout or get out its lose lose for synliat

[Sideshow Bob]

Obviously forgot about cutting down those trees:

https://www.ruralnewsgroup.co.nz/rural-news/rural-opinion/hound/ironic-2020

[Beagle]

I love that Hound's sense of humour. "Cuddler in-chief" and "glorified handbag carrier" lol

She obviously doesn't have very intelligent advisors otherwise she would have known to wear pink on the day to fit right in.

[dreamcatcher]

Covenant law outdated and needs replacing.

Only part of building on covenanted land but have every right to build on any un-covenanted land. I'm not a lawyer but fail to see any damage done to Mr Ye. If total land had a covenant and SML built I would understand him been upset.

Bring on April

[Beagle]

Covenant law outdated and needs replacing.

Only part of building on covenanted land but have every right to build on any un-covenanted land. I'm not a lawyer but fail to see any damage done to Mr Ye. If total land had a covenant and SML built I would understand him been upset.

Bring on April

Covenant law goes back hundreds of years and is one of the fundamental building blocks and principle's of property law. I can't see a N.Z. Court changing a law that old.

[Marilyn Munroe]

The board also sanctioned his approach so the rest of the board should also all resign if they fail at the Supreme Court.

The management and board deserve a smidgen of sympathy as they had a favourable High Court decision before the Court of Appeal went "hang on a minute mate".

My understanding is the covenantor was not a party to this case but entered the fray at the Appeal Court case. I find it unlkely they would not have had legal advice at some stage that overturning the covenant in conjunction with a third party and without the ovenantor being present to argue his corner is risky.

This could end up as another instance of being careful investiing in companies governed by former politicians. Will we have the mother of all resignations?

Bopp boop de do
Marilyn

[Sideshow Bob]

I love that Hound's sense of humour. "Cuddler in-chief" and "glorified handbag carrier" lol

She obviously doesn't have very intelligent advisors otherwise she would have known to wear pink on the day to fit right in.

I would say that particular publication would be well aware of the political leanings of their readership. Such comments would be lapped up!!

[Sideshow Bob]

The management and board deserve a smidgen of sympathy as they had a favourable High Court decision before the Court of Appeal went "hang on a minute mate".

My understanding is the covenantor was not a party to this case but entered the fray at the Appeal Court case. I find it unlkely they would not have had legal advice at some stage that overturning the covenant in conjunction with a third party and without the ovenantor being present to argue his corner is risky.

This could end up as another instance of being careful investiing in companies governed by former politicians. Will we have the mother of all resignations?

Bopp boop de do
Marilyn

Interesting that A2 have no representative on the board, however Bright have 3 seats around the table. With all due respect, knowledge or understanding of NZ legal systems is unlikely to be high up in their skill set.

Not that she is necessarily there for her legal skills, but there is only one director with a legal background......yep, you guessed it!

[Beagle]

Interesting that A2 have no representative on the board, however Bright have 3 seats around the table. With all due respect, knowledge or understanding of NZ legal systems is unlikely to be high up in their skill set.

Not that she is necessarily there for her legal skills, but there is only one director with a legal background......yep, you guessed it!

No wonder they're in the ****