Niko Resources Ltd NKRSF

RE:I wonder what legal options they have

[zibo]

I stated some time ago that if we got to this point RIL would serve notice the day after the default notice expired, now that this has happened it confirms that the partner's intention was to seize Niko's 10 % of D-6 and have the legal right.

I don't think Niko has a leg to stand on to legally challenge this action and win, these contracts contain these provisions specificly to address situations like this, you can't spend billions of dollars and have a partner able to retain their position and not pay their share of costs, you don't pay, you don't play, plain and simple.

I think we're finished, the only possibility I see at this point, is that untill ownership of D-6 is transferred and lost there is a chance of some other outcome, like 1% chance.

I thought the Lender's would step in at the last minuet and make a buy out offer to Niko, maybe just maybe they still will and were waiting until this notice was served to make a move, even if they do it's probably not good as they were waiting for right time to take D-6 over for the cheapest price possible.