David Nurek rides over the rules.
The North Gauteng high court case in which the Randgold minorities are suing Investec has to date spawned more than 15,000 pages of evidence, yet the merits of the case seem no nearer to being heard than when the case was launched on 28 March 2011.
In seemingly endless attempts to derail the case rather than have its day in court, Investec has launched one red herring after another. Legal costs so far (for both sides) are already running in excess of R15 million each.
By far the biggest sideshow in the case has been Investec’s championing of the unprecedented notion that the Randgold minority shareholders have no rights, and thus don’t qualify to be in this case in the first place. As it has been said, if it looks crazy and sounds crazy, it probably is – unless it’s in Investec’s hands, where crazy may also be normal.