RE: Terrible news from JB... others were right....8 Jul 2020 13:26
i have said before and will say again the sell agreement may be " irrevocable" That does not preclude a scenario whereby JB sells the agreed share volume to himself or a holding company! the broker and Jb may have a " binding " agreement re commission,volume or otherwise but no agreement is so binding as to insist on a sale even when there has been a material change to circumstance !!! That agreement does not and cannot exists.
However even if the sale has to go ahead there is nothing stopping the preferred buyer being the seller ! there is also nothing stopping the buyer being a shell company.
So irrevocable may be applied to the sale agreement,but not to the situation. JB can stop the negative impact of the sale relatively easily if he so wishes !!! END OF