Quote:
Originally Posted by afc wimbledon
I thought if Goldwater wins the case the bonds are cancelled, investors, I would assume, get their money back and the whole deal crumbles.
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Not necessarily. The problem with analyzing this case is that there is neither one single determinative point of law, nor is there simply one question. There are a series of related, but not necessarily individually determinative, questions.
Either side could prevail on certain points, but lose 'the case'. The problem is determining what 'the case' actually is:
- financing of the original purchase agreement?
- financing of the stream of parking revenues?
- the poison pill arrangement in the financing?
- the legality of the CoG making such a decision in the first instance?
- is there a 'gift' contravening AZ law?
- even if there is a 'gift', could the financing go ahead?
And, to make matters worse -- suppose any party prevails on any of the above and 'wins' -- then what are the repercussions? Does the sale still go ahead? Does it stop? Does the poison pill come into play? Are there damages? How much and to whom?
It's a legal quagmire that I'm not sure anyone has the stomach to fight in defence (ie the NHL, CoG or MH).