Lord Hoffmann wasn’t a random choice.
He is an advocate of the “purposeful “, as opposed to the
”literal”.
While my understanding is limited I believe that it may well come down to this.
Notwithstanding if that is the result then my understanding is that you may as well delete the PE clauses in most JV agreements.
We will see.
The waiting reduces one day at a time!
PE Preliminaries, page-47
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