There is a very good reason why businesses carry out due diligence and obtain indemnities for pre transfer liabilities. There is also a very good reason that chancers don't always win.
Couple of points before we go to deep into board bashing on this.
Firstly the payments were due from July 2012 and thus the decision that they were not liable for them was taken well before JedCo took over.
Secondly whilst they did not do DD before they took over, did they not have an extensive DD process taken post takeover, was this not why certain things were delayed.
Thirdly are we sure they don't have any form of indemnity to the previous lot, if nothing else I would expect any payments to Fitton etc for Austin sale (if it ever happens) would be placed in some form of suspense account whilst such claims are sorted.
Finally do we know that they were not already aware of this, I know Jedders has come out and acted all shocked, but if you are fighting any claim be it legitamate or not that would be the stock response for now, if he public acknowledges the existance of the perceived debt it could be used in any future case.
Once again I am not saying all is rosy in the garden, it looks pretty riven with weeds where I am, but can we please have some perspective before everyone piles in and just blames the board for this.
