It must be getting close to an update regarding the legal action - almost 2 months since this:
The registration in Singapore is a significant milestone for several reasons, including
1. Xstate has leave to enforce the WA Australian judgment as if it were a Singapore judgment;
2. Xstate has liberty to enter judgment against the defendants 14 days after personal service of the Singapore Order on the Defendants; and
3. Xstate has liberty to apply for further orders.
Furthermore, the Singapore High Court has also in principle granted Xstate leave to enforce the costs of the Australian proceedings, subject to the quantum of these costs being been decided.
As previously advised, the Australian Judgment has ordered that the defendants pay the Company a total of US$33,187,960 as damages plus interest of US$1,612,934.86 (total of US$34,800,894.86).
The Australian Judgment also ordered that the said defendants pay the Company's costs of the entire WA Supreme Court action and of the summary judgment application without regard to the limits imposed in the Legal Profession (Supreme Court) (Contentious Business) Determination 2016.
XST Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
(20min delay)
