Forum Archive Index - February 2000

["Osbert Sun" <osbert.sun@xtra.co.nz>]

Bret,

 

Can you elaborate on the Star Times article with regard to the Savoy's legal action against the Auckland City Council for the aborted Britomart project? In the Chairman's address to AGM, it was indicated that Savoy is going to take the Auckalnd City Council to court for the damage relating to the termination of the Britomart project. I read from somewhere the amount sought was $100 million. Seems a rather ambitious legal case against ACC. I would guess that an out-of-court settlement with a much smaller damage compensation to Savoy from ACC could be a likely outcome. With regard to the talk on the Ericsson, I would think that Savoy may use the Safety Net as a medium for the linkage which sees that the Safety Net takes on some contract projects for the Ericsson without Savoy having to commit more of its already stretched capital for the further development in the wireless telecommunication. At some stage Savoy will have to bring another party (or parties) into the play if it is serious about its investment in the "E-commerce domain".

 

Regards,

 

Osbert

----- Original Message -----

From: bret

To: sharechat@sharechat.co.nz

Sent: Sunday, February 20, 2000 1:16 PM

Subject: [sharechat] Re: Savoy vs. ACC

Does anyone have information regarding the likely outcome of the legal action Savoy is taking against the Auckland City Council with regards to the Britomart project? I have read several newspaper articles including the Star Times today, which have all left me none the wiser.

 

If anyone can tell me more it would be much appreciated, as I would speculate that a successful outcome for Savoy may be means for further ventures into 'wireless' technology.

 

The rumor of on going discussions between Savoy and Ericsson make this possibilty interesting from what I have been reading about Ericsson's recent success in the wireless domain. See www.cnet.com an excellent site for international stock and tech research.

 

Hope there's a bit more wind in Auckland today, so we can see some exciting yacht racing, a win to NZ is just what we need for the week ahead.

 

Cheers Bret