| Subject: Re: Re--Important dates ERG Brisbane contract approaching decision time AFR 15/1/2002. |
Author:
Steve Bonkers.
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Date Posted: 14:00:09 01/14/02 Mon
In reply to:
Steve Bonkers.
's message, "Re--Important dates ERG (court case--Cubic) Jan29th Feb 15th 2002" on 13:42:55 01/14/02 Mon
Start of topic by AZZUMAH
Message ERG court case??? (read 137 times; 1 reply)
Conference ASX
Posted Mon 14-Jan-02 19:41
Member AZZUMAH
Email Address macca@ruralnet.net.au
Member Since 7-Dec-99
No. Connections 463
No. Posts 334
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Hi guys...any news out on what or if anything noteworthy happened today? Thanks
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Reply by sprocket99 to AZZUMAH (1 of 1)
Message ERG court case??? (read 10 times; 0 replies)
Conference ASX
Posted Tue 15-Jan-02 08:18
Member sprocket99
Email Address sp_rocket99@hotmail.com
Member Since 1-Aug-99
No. Connections 550
No. Posts 146
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word is that CUBIC have got no chance of sustaining any injunction. the NSW govt are throwing a heavy legal team into defending this, and have a string of affadavits from people involved in the tender process swearing as to the validity of the process. they are asking for the interim injunction to be thrown out.
apparently, CUBIC have been known to do this tactic elsewhere, and it is unlikely to help them in the Australian jurisdiction which generally does public tendering "by the book".
the case is being fastracked by the NSW supreme court, with hearings in early Feb and a decision by Feb 15. Feb 15 is also the day the ERG/Motorola offer expires, and the NSW govt wants to conclude contract negotiations. One good aspect of this is that the NSW govt now has a bigger stake in making the project a success, to prove they were right in their choice.
also, the AFR this morning says that the Brisbane contract is approaching decision time - the two shortlisted are ERG and CUBIC.
read the red stuff below very carefully, as ERG is a speculative play which has cost a lot of people a lot of money.
SPROCKET........
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DISCLAIMER:From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. While every effort is made by the moderators to remove these, some may still appear on these forums. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice. Before acting on any of the information you read and making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
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