30 Jan 2008
INDUSTRY AUTOMATION LDC v. UNI LINK LTD AND OTHERS
- Citation
- INDUSTRY AUTOMATION LDC v. UNI LINK LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA12467/1998
Clause 2.1 required only appointment of Ernst & Young to carry out an audit, not a guarantee to procure completion; no term compelling procurement of completion could be implied as necessary; Plaintiff, having continued to exercise shareholder rights and press for performance after any repudiatory breach, affirmed the Agreement and lost the right to terminate; the Agreement was not frustrated because a usable audited result (including qualified reports) or alternative means of calculation were available or contemplated; consequential claims dismissed.