Wow that was interesting reading. Here are the goodies I've extracted....
John Cumming - "I have chosen not to pin the tail on the donkey" Did he just admit that he's an ass? He does get props for not blaming it on his incompetent CFO.
The rent check cashing issue is nothing. The rent check cashed was for rent in arrears and even if they had cashed the checks for the subsequent seasons it would not have mattered.
How Talisker found out about the back dating of the renewal has been revealed: Cumming's "certain words and phrases" during a meeting "piqued" Bistricer's interest. aka Cumming let the cat out of the bag.
The judge ruled that complex transactions like the lease agreement do not need an exception for equity because of their complexity because:
"Complex transactions ... usually are entered into by sophisticated parties who generally have sufficient resources to protect their interests by, for instance, hiring lawyers who can scrutinize the transaction ...." Hmmm - you can't blame the lawyers who drafted the lease agreement for not protecting Cumming from stepping on his own air hose. Or can you?
The same attorney pleading for equity lost the same argument in the Utah Coal case. What was the definition of insanity again? If I was Cumming I'd be demanding a rebate on attorney fees for this.
There's a legal requirement that the resort lands be operated in tandem with the base area? Oops - not really - nice try though.
There's one ruling in Cumming's favor. Negligent non-disclosure of non-renewal can proceed to trial.
hornbook law - I learned a new term today
At the end, the judge remarks:
"this case .. has been litigated ... in a highly competent manner on all sides" (after consistently observing that the PCMR arguments were unconvincing this is what? there has to be a word for this kind of politeness )