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Post# of 13962
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Skier1231

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Skier1231

Re: motherinlaw2 post# 3703

Monday, 06/10/2019 2:04:59 PM

Monday, June 10, 2019 2:04:59 PM

Post# of 13962
What terms did they breach? They don't say in the motion.

Why didn't they terminate the license earlier? I'm sure they had several months to do that. Why wait until the last possible day before the scheduled sale by Discover? The reason is because if Discover hadn't filed the notice of sale (and Imnp consequently hadn't filed BK) then ICO wouldn't have terminated the license. Because the "breach" in the terms wouldn't have been reason enough for them to terminate it- they would have gladly transferred it to a new party as part of one of the big offers that Imnp already had on the table and receive their $32 million in milestones payments per the agreement later. This was a last minute effort to try to keep the license out of BK.
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