News soon?8 Jul 2020 21:25
It wasn't clear to me in the RNS or in the interview whether the courts still intend to make a ruling if an agreement is not reached before the date of any extension they may or may not have recently granted. I presume they have set a new date, and I presume @Kiran knows this date, so why didn't he tell us? Too close? Didn't want to froth the market? Expects a settlement before this date?
We know the original ruling date was intended to be the end of June, so I would have thought a 10-14 day extension would not be out of the question, but obviously it could be longer.
Interestingly these timescales might correlate with the April timeline leading up to a decision and with recent events in our court case, but it would mean that the decision to allow more time was likely not taken this week - and if this is the case, why were we not alerted sooner?
https://esaj.tjsp.jus.br/cpopg/show.do?processo.codigo=2S000I22C0000&processo.foro=100
April timeline:
===[
4/7/2020 Decision
4/6/2020 Joined Petition
4/3/2020 Joined Petition
4/2/2020 Request for Summons of the Joint Liquidator
4/1/2020 Conclusions for Decision
4/1/2020 Conclusions for Judgment
]===
That's nearly a week from "Conclusion for Decision" to "Decision"
July timeline:
===[
07/08/2020 Joined Petition
07/07/2020 Joined Petition
07/05/2020 Conclusions for Decision
07/03/2020 Petition Waiver of Mandate / Attached Charge
07/02/2020 Attached Petition
06/30/2020 Request for Summons of the Joint Liquidator
]===
So it could be any time really, sometime next week seems likely if an out of court agreement isn't reached beforehand. And if @Kiran does know the potential ruling date, then he appears to think it's possible that announcement of first shipment might occur before then - or an out of court settlement might occur first.
I do wonder if he purposefully extrudes ambiguity to give us something to talk about! ;-) Only joking @Kiran :-)
In summary: news soon? I'm refraining from using imminent. For now! LoL
Ob.
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