From araldica.com
I highlighted the phrases that you should focus on:
Danielle Update
On Friday, 29 May 1998, a response was filed in New York State Supreme Court, Goshen, New York, by the defendants (Jon L. Swan and Danielle Cheese Distributors) in re the contract litigation filed by Araldica Wineries on 23 April 1998.
Counsel to Araldica requested a one week adjournment in the scheduled due date for the filing of its answer to defendant's response, from 5 June to 12 June; such adjournment was uncontested and agreed.
Counsel to Araldica will be filing the company's answer this week, and both sides are again due in Court on Friday, 12 June 1998, for oral arguments before The Honorable Peter C. Patsalos, presiding State Supreme Court Justice, after which the company anticipates the issuance of a favorable ruling by the Court in this matter.
Counsel has also indicated that settlement discussions with the defendant's counsel have been mentioned recently, and that such will hopefully begin formally within a week or two, and result in an amicable disposition and the withdrawal of the litigation.
In anticipation of the likelihood of such event, the company has again made the relevant financial arrangements with certain of its investment bankers, to reserve the $400,000 contract payment (the maximum anticipated to be required by any settlement) in an attorney escrow account within the next few days.
We will keep the Araldica web site updated with the latest information on these matters as events warrant.
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If you focus on the highlighted phrases you get:
On Friday, 29 May 1998
Counsel to Araldica requested a one week adjournment in the scheduled due date for the filing of its answer to defendant's response
both sides are again due in Court on Friday, 12 June 1998
after which the company anticipates the issuance of a favorable ruling
settlement discussions with the defendant's counsel have been mentioned
We will keep the Araldica web site updated
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The June 12th date slipped to July 21st (not unusual), no settlement was agreed on (yet), and the Araldica web site has not been updated (no surprise). Stay tuned.
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