Yes, this significantly strengthens our position. The auditors now have a choice.
1 - Use the opinion as a basis for accepting PNC’s valuation methodology or
2 - seek their own counsel (@ their cost). If it agrees with David Russell’s they will have to give us the green light...
3 - if the opinion differs and they qualify...significant commercial and reputational damage will be done...necessitating a costly court challenge...against which PNC might have grounds for both costs and damages.
really is it worth it to go to war over an interpretation. I say let the operational cash flows be the judge.
Counsel's opinion, page-2
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