manufacturing update, page-4

Livas1

I have been saying that for some time. In commercial agreements I have been involved in, insolvency is a fundamental breach entitling the other party to rescind. How can BP perform its obligations to manufacture if it is insolvent? Whereas if in administration the administrator can continue to run the business assuming it is viable to do so. But with BP there is no business to run merely a right to manufacture. I note from previous announcements the ability of BP to sell the manufacturing rights has been acknowledged by EMS so it must be a particular provision in the agreement.

would be nice to get finality on this issue!