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Re: Manhattan Club Lawsuit (by Nathan Z.):
Hello Fibo, I’m no lawyer, but I think we have to look at what the AOD says, not what we would like it to say. The AOD gives current management up to three years to sell; it does not require a three year sunset. So a transfer can happen any time it suits buyer and seller up to three years. Similarly, a breach gives the AG the opportunity to reopen the matter but not the obligation. Given how much time and money the AG has already spent on this, I wouldn’t expect a lot of enthusiasm about investing more. If there should be a breach, I’m betting the AG would rather “cure” it (i.e,. remedy the breach) than reopen the matter. And none of the admissions of improper behavior are admissible in court unless the AOD gets tossed. I don't know if anyone has the ability to void the AOD other than the AG. My point is that this just isn’t the slam-dunk some folks present. Any lawyer who can do this is worth his keep; The management certainly got their money's worth.