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Tuesday, April 12, 2016 11:27:45 AM
There are many grounds, from a legal basis, to rescind a contract.
Those bases include, but are not limited to, material misrepresentation of fact and material change in the substance of consideration.
You can rest assured that Rontan did not take the action that it has taken without having received advice from highly-qualified attorneys.
We may never know what actually has occurred behind the scenes.
My best guess, however, is that the owners of Rontan came to the same conclusion that I came to many months ago, viz., Sullivan and his cohorts are a combination of snakes, hacks and incompetents who could not be trusted with a deal of this magnitude.
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