George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Looks like there is a lot more confidence in this share now. Some very decent buys going through this morning. I still retain my 40,000 shares from spring of 2020, not being clever enough to have sold them at the right time. I won’t make the same mistake again.
DHSC bringing the sj, so looking to prove ncyt defence has no prospect of success.
NOT going to happen.
Https://hallellis.co.uk/summary-judgment-applications-defences/
Summary judgment is a court order - judgment - which brings litigation to an end early.
The legal proceedings are brought to an end when, at a hearing of a summary judgment application a court finds that the claim or the defence:
has no real prospect of success, and
there is no other compelling reason why the case should be allowed to proceed to trial.
Courts say that summary judgment is:
designed to deal with cases that are not fit for trial at all: Lord Woolf in Swain v Hillman (1999), the Court of Appeal
The judgment avoids a close examination of all the evidence which might be produced at the usual end point of litigation, which is the trial.
The parties are saved significant time, expense, worry and the distraction of enduring the entire litigation process through to the trial. There is no point.
Still think a trial likely if the reason for disagreement is a point or points of English law.
DHSC is trying to avoid a full trial, but confident we will prevail.
I think the request is made because in the view, or argument put forward, by the DHSC there is a simple flaw to the defense that will undo it. We have speculated here often what that may have been amidst much push back against discussion by the likes of Larry & Karen telling points made by shareholders as invested as themselves that they were "traders" who need to "jog on" etc. It was just sad guys.
I still reckon the timing of the dispute is the best clue. The DHSC withheld payment & commenced dispute for deliveries after the day NCYT announced the release of PROmate on 16 Nov 2020. Can they have expected, against all specific references contained in the 29 Sep 20 contract for ex-sig, to receive PROmate instead? There was not enough information available to the public to understand why or how they might have thought that & hence why a sensible forum of discussion might have helped PIs avoid huge losses Larry & Karen.
No doubt the timing in context of announcement of release of vaccines developed in Project Warp speed in the first week of November, seemingly timed after result of US election) & the DHSC switch to purchase huge numbers of lateral flow tests from Innova, subsequently banned from use in the USA by the FDA for inaccuracy). That scam would have also been interesting as a topic for discussion & with hindsight role of China too. It seems to me NCYT got a jump on the whole market through having a branch set up in China in 2019 on a mysterious epidemic that became a selling exercise of Chinese products.
Looks very much like a prelude to a settlement!!!
Hi (ex)lawyer and LTH here. Usually SJ apps are towards the start of a dispute and have a very high bar for success. Of course we don't know the ins and outs but my positive spin on this is that it is a cheaper way for the Gov to test their case without trial. If they aren't successful they don't need to cave in but settlement would become more likely and Nova would be awarded costs
Looks like Novacyt will get back £ 81.5M + INTEREST[~£8M ] + REPUTATION OF GOOD NAME
+? COMPENSATION FOR DAMAGING SHARE PRICE / REPUTATION
Crossing all T's dotting all I's and doing it properly, is the ONLY way to do it, show professionalism and fairness to Judge and get treated accordingly, not like the dhsc simply lashing out, in an attempt not to pay for something they have had and used and re-ordered!
And about bloody time as well !
Great RNS imo
Any lawyers here? Why hasn't Novacyt applied for summary judgement? If the application by DHSC is refused is that an excuse for DHSC to settle.
‘Very week’ the wording upon the UK RNS and not weak
I’d imagine that the entire case hinges upon one aspect.
Sounds kinda like that doesnt it
Tks Larry I nearly choked on my cereal there, hi Neilrich3 I'd hope it's the old case of " remove the cornerstone and the whole house falls down". Heres hoping.
Also, not precarious, but ‘very precarious’
An interesting choice of words
Hi Neilrich, thanks for this explanations, but as it's " in respect of one aspect of its claim", is it likely to have a Real effect on the trial in its entierty ?
Reading between the lines the DHSC perhaps ready to throw in the towel :)
Wow…subjective, however perhaps this trial won’t go the distance and the DHSC shall attempt to settle the claim…..here’s hoping!!
In law, a summary judgment, also referred to as judgment as a matter of law or summary disposition,[1] is a judgment entered by a court for one party and against another party summarily, i.e., without a full trial. Summary judgments may be issued on the merits of an entire case, or on discrete issues in that case. The formulation of the summary judgment standard is stated in somewhat different ways by courts in different jurisdictions.
In England and Wales, the court rules for a party without a full trial when "the claim, defence or issue has no real prospect of success and there is no other compelling reason why the case or issue should be disposed of at a trial."
Https://twitter.com/Larry64450205/status/1781178730330595837?t=8jrbu7QA93xUqAf1ZYAudw&s=19
Update on DHSC claim - Pre-trial review
Automatic translation :
As previously announced, the Company and its subsidiary Primer Design Ltd are parties to litigation with the DHSC. The first instance hearing is scheduled to commence on 10 June 2024 and conclude on 4 July 2024. The Company expects
that the court will take its time in reaching its judgment, which means that the outcome of the trial will not be known on 4 July 2024.
The court has set 30 April 2024 as the screening date. This is part of the normal litigation process and relates primarily to administrative preparations for the trial.
The court will also hear an application for summary judgment made by DHSC in respect of one aspect of its claim, in which DHSC requests that judgment be entered for the full value of its claim. Having obtained legal advice, the Company considers that this claim is very precarious with little prospect of success, and is confident that the court will dismiss the claim. It is not known when the court will rule on the claim. It may be during or at the end of the pre-trial review, or shortly thereafter.
And how short the memory was for all companies that tried to help , when the country was in need , disgrace! The way they've all been treated . Personally I think this will have some weight in the mind of the court, extraordinary times these companies worked in
Only really tarnished thing here is the dhsc! & those that control its actions!
next pandemic (whatever species) they will come begging!
Sold into the 68p & now wanting back in lower?
#dontletthem imo