Sagres Energy Inc V.SGI

Does Catalyst get hit with $21 million in damages?

[PulpCutter]

"After successfully obtaining judgment against Vango and DPPL on 31 October 2022 in relation to issues of liability, in November 2022 Zuleika filed an application in the Supreme Court of Western Australia seeking special costs orders against Vango and DPPL in respect of Zuleika’s costs of the proceedings to date (including the costs of trial) (Costs Application).

The Costs Application sought orders to dispense with the usual monetary limits that would otherwise be imposed on the assessment of Zuleika’s recoverable legal costs.

On 11 January 2023, the Honourable Justice Smith delivered her judgment in respect of the Costs Application in favour of Zuleika, determining the special costs orders sought by Zuleika should be made." -----------------------------------------------

 

What - CYL didn't tell the market about this?

Justice Smith is clearly leaning on Vango; sounds like Catalyst may be covering the full $21 million in damages that Zuleika claimed. After CYL covers the 'special court costs order'.

https://www.asx.com.au/asxpdf/20230116/pdf/45kp58pdtmjgly.pdf

[invest234]

vote NO to avoid cyl/van liability. van still owes sgi for court costs. wait for the dust to settle and sgi is making a profit in 2023 before contemplating a merger. there is no rush to give away the farm for peanuts.