Have to say that despite earlier views - mine and others - that the fiduciary case was weak - the latest reveals have been pretty powerful. No doubt in my mind that this was the core legal advice from the beginning but of course the journey has gone all over place since October. A couple of observations…
don’t ever underestimate the influence of Levan here and I see Bugsy has spotted his appearance at an AmCham event a few days ago. A few more grey hairs but that Levan is still there is testament to in part the strength of the argument, in part his loyalty and in part I suspect a very significant shareholding.
that Hope has not once tried - as a director - to act as a director is surely now beyond dispute. So the issue here will be how either a jury sees that - or more importantly how the lawyers think a jury will see it. Once in court there is no turning back for Hope.
the blanket of silence is now I think understood by all. But to be clear the simple fact is that some shareholders are clearly in the enemy camp so the decision to cease all communications became unavoidable
where this ends up I do not know. But in my view this has now to be the binary bet of all time. The downside is so obvious but for key players - including the likes of Levan - to be still at the table demonstrates for me that winning here is about far more than just survival
The end game is clearly not that far away