RE: This BB20 Jul 2023 12:46
Jarv they provided an insurance indemnity for the company to approve but the company did nothing. Look at the dates for all the communications, yes there was a gap from the claimants for a while, but effectively, the company dragged it's feet regardless even when the claimants were trying to make headway. I hve stated previously, despite IKN continually trying to twist it, they claim damages at point 5, those damages are not quantified, they are unquantified because until the Judge decides firstly, whether the company should have replaced the certificates or not in a timely manner, and certainly when the offer of indemnity insurance was provided, then it is impossible to know what the claimants will then state was their intention as to when they would sell, and how many shares they would have sold. When the judge determines that, if the claimants are successful in arguing that the certificates should have been replaced, then he can hear evidence on the loss suffered by both claimants and work out a figure. He or she will then award that sum and also all legal costs of the claimants to be paid by the defendants (the company), if the claimants win on the first point, which is were they denied the opportunity of having those certificates replaced. My view is that they were in that an offer of indemnity insurance was made by two companies from recollection jointly, which had a 30 day period of acceptance, but the company did nothing and so it expired, and then the claimants couldn't get another offer as the war had started. If the case had no merit, as I have said before, the Judge would have thrown it out at first instance. By the way, from where did you get the wording for the amended defence?, as you haven't stated your source, and caseboard has copyright and I'm sure they wouldn't be pleased if you have taken it from there word for word. Better to summarise so that there's no breach of copyright/plagurism from their site. If you visited the High Court and made a request to inspect the documentation then that's different, but I suspect that isn't the case. Just saying.