Have to say Regdik captures my view exactly. What we keep seeing are “screenshots” in time - but always well after the event
Yesterday’s paper referred to the court hearing on 18th December - nearly 2 months ago. The draft ruling was circulated on the 20th December - for the legal teams to comment.
The final ruling was circulated on January 22nd - so still 3 weeks ago. So in a nutshell the judge said to the opposing parties - on 18th December - this case “cries out for a commercial compromise”
The Term Sheet announcement re NY Financing was RNSd on 12th December - just 6 days before the hearing. And one thing I do know is that the Nomad was happy with the validation of that RNS because he had seen the documentation and was aware of the lenders credentials and background (just as he was on the NDA signatories, and earlier company claims that the Tarabani potential had been understated).
Why am I so sure? Because I picked up the phone and rang him.