The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
B2h so we r going to Court in June?
Amers,
From caseboard - DHSC v Primerdesign
30 Apr 2024 09:30 Pre trial review/application hearing
Mrs Justice Jefford.
Court 25.
It stated in caseboard that the hearing was for 1 day, so 'continue at the High Court' possibly means 10 June,
Primerdesign case must go to court.
That's all the hearing was for - to test whether a court case was necessary.
"Faced with that difficulty, the government is attempting to mount a rearguard action in the form of this 'robustness' claim, which on analysis is unsustainable."
The first part of sentence deals with the summary judgement rejection. What does second part mean regarding 'robustness and 'unsustainable' any thoughts anyone.
Hello all.
My first visit here in a long time.
Saw the news article on sky and thought I'd pop by and see what everyone's thoughts were.
Still hold my paltry bag of very expensive shares.
Have to say I'm flummoxed by the DHSC position and it doesn't tally with my recollections of that time.
Without going over old ground, tests were validated and approved and used. Never, ever intended for public use, whatever that means.
Pretty sure they got CDTA approval too and more were ordered.
I'm over my losses now, could have cashed out at 40% up, got greedy, doubled down, just before phase 2 was canned.
Live and learn.
Who's replaced salad man
As you were
P
The hearing is set to continue at the High Court.
Does anyone know where and which court the case will be heard tomorrow. I will go and listen
HC - and thats because the NCYT reputation was and still is at stake.
B2 we don't know if there could have been some sort of settlement early on with neither party taking responsibility, that's my guess anyway, yet Novacyt appear to have played hardball from the start refuting the claims outright then suing right back.
HC - For the sake of product validity and reputational read across to their other products,
NCYT have no choice but to see DHSC claims vanquished.
In November 2020, TVG deemed the tests should not be used and the kits were never rolled out across the NHS.
He said that Exsig tests were analysed in seven NHS laboratories, six of which found a failure rate higher than 10% - including four reporting a failure rate of 25%.
Now, if Novacyt has to win this case then they have to prove TVG and 6 NHS labs were wrong which in all honestly might be a difficult task!!
So
"The court will also hear an application by the DHSC for summary judgment in relation to one aspect of its claim, as part of which the DHSC is seeking judgment." The following is the 'one aspect of the DHSC claim which is the summary judgment':
"Exsig failed at an unacceptable rate due to design and/or manufacturing defects and therefore lacked robustness", Mr Heppinstall told the court.
He said that Exsig tests were analysed in seven NHS laboratories, six of which found a failure rate higher than 10% - including four reporting a failure rate of 25%.
Mr Heppinstall said the tests kits were "unfit for public use" putting the companies in breach of the contract."
+++
If Twigger demolishes this claim, (and NCYT has always been clear their tests were not at fault),
I'm not sure there's much else in the DHSC ammunition locker.
Let's be honest, there's a huge power imbalance here. The DHSC could always see it through to at least this point in time whereas ncyt constantly had choices to make, hold their ground and take the significant hit to share price and the complications that can come with that or back down and concede.
So the fact that we're even at this stage proves that Novacyt truly expects to win whereas for the DHSC most likely it's simply that they haven't had any incentive to back down earlier...that doesn't mean they see it all the way through to trial in June though.
Sorry phone jittered
Haha..harchris..great minds think alike
Haha..
Lactic...I have said all along the reason they pursue small UK companies is because they can
They would have no hope pursuing Chinese or Turkish companies that sold crap.
We all know it.
So they can use chasing after small UK companies that were doing their best to help out as a pr stunt..to say oh look how we are robustly chasing after wasted money.
The thing is the test passed ctda .
It looks like it is going to court
So DHSC how does that line up with this:
https://www.lse.co.uk/rns/NCYT/approval-of-exsig8482-covid-19-direct-test-in-the-uk-bvmwqxzelcoyade.html
16.06.2022 RNS -
"On 15 June 2022, the Company filed a defence of the claim received on 25 April 2022 and a counterclaim of £81.5m against the DHSC. The value of the counterclaim is broadly in line with the amounts previously announced by the Company in its full year 2020 results, plus related interest."
AFAIK we are seeking £81.5m + interest. not the £69.7 m mentioned in this article.
Reading between the lines, the DHSC application for summary judgement has been rejected.
Failure rates of 10-25% they reckon !! Yet the Chinese crap they thrust on us had failure rates upto 70%.
They spent billions on china crap so why aren’t they pursuing them .
Seems like government is going to fight tooth and nail to win this. What will happen in the event Primer Design Ltd and Novacyt losses the case?
Can they pay £145m and get on with selling ranger which is a good product?
"Testing Isn't Going Anywhere"
Directed to WBAFC
If they were to make a movie about NCYT and all the Covid tests and dispute i think the Doc in The Back To The Future movies could play you !!
If we win dispute we all be happy as Larry Larry
That just happened to be a one off Wilson.
Never sold another one and although greatly enjoyable over 20 years and a lot of success, I wouldn't want to calculate the plus and minus columns.
A bit like Novacyt, but hopeful the Plus column may outweigh the Minus one in the coming weeks.
Ventura, looks like a good sale on your part, I don't rub shoulders with the likes but once almost let a room to Miguel Jimenez who made the cut at Birkdale!!