SML - Synlait Milk Ltd

[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]

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 ****