Management/BOD does not get 10% automatically. I believe the Order reads that it may receive "up to 10%." This leaves argument to be made that they do not deserve 10% or, put another way, it may require the BOD to justify the amount that they should be awarded with 10% being the maximum. If the award was 2 billion, management would theoretically get 200 million, more or less. It is not a difficult stretch to argue that the BOD in no way, shape, or form is entitled to that much. Also, Fung's leverage for arguing that the BOD was entitlld to that much was based in significant part upon the argument that the Board would take a hike and abandon the corporation and its shareholders if not so handsomely paid and thereby leaving the shareholders w/o any support by them for an arbitration award. Maybe at last the CCAA judge, who I believe will make the decision on the amount the BOD will receive, will recognize that this argument was bogus and unethical because the BOD had a fiduciary obligation to its shareholders at the time of the threat not to abandon them and to do everything necessary to perfect an award; also because by the time this threat was made KRY's atorneys had in their possession all of the informstion they needed to obtain an award. If they had not yet obtained the signatures of Fung and a few others to Affidavits that were to be submitted in support off their case, they could not refuse to sign them becaue of that ethical obligation. Moreover, do you honelstly think these greedy b-----ds would abandon ship and give up their 10%?
