The Buyer - Excuses, Excuses, Excuses

Shortly after posting on Friday
January 11th, 2008, I get a call
from the Buckingham agent. He
claimed that he just received an
email indicating that I sent a letter.
He said, "they didn't get it." The
claim had the ring of b.s. but
I didn't tell him that. I wasn't in
the mood to argue. He asked
who I sent the letter to. I told him
EWCP's lawyer in Chatham and lawyer#1.

I had also sent a copy to EWCP/EWCC's
in-house lawyer in Calgary. He said,
"Oh its between the lawyers." I said,
yah, I guess so." He asked how things
were progressing. I said, "I don't know."
He said he would see what he could do.

I receive a letter in the mail from the
Buyer's Chatham lawyer. I noted the
lawyer tried to send the letter by fax
on Friday, but I didn't receive it. I
have to be home to accept the fax
manually.

I think if the Buyer is willing to
forego the confidentiality clause, and
not add anything more to the Agreement
that would cause further delay (so it can
figures out how to get out of payments
to me for the purchase price and
expenses) we can get a settlement. But
the Buyer has to act in good faith.

The Buyer showed bad faith in including
the Purchase Price in the confidentiality
clause (among other things). Deleting the
Purchase Price did not show good faith
as the Buyer did not intitate the removal
on its own. The inclusion of the Purchase
Price in the confidentiality clause was
was no mistake.

It doesn't make sense to me that the
Buyer acted in bad faith in including
the Purchase Price but acted in good
faith in including the Expenses. Since
both the Purchase Price and Expenses
appeared together in the Confidentiality
clause, it seem to me that one taints the
other. If the Purchase Price was included
in bad faith, then the Expenses was
included in bad faith too. Removing the
Purchase Price from the clause doesn't
remove the stench. It still stinks.

The Buyer is insisting that the
Confidentiality clause for the Expenses
must be included in the Agreement or
it will not sign the Agreement. If the
Buyer was acting in good faith it
would delete the clause and not use it
as an excuse not to reach a settlement.

My position on the confidentiality
clause is not new to the Buyer. I
reiterated again in my latest letter
in response, that I would not sign
an Agreement if there is a confidentiality
clause.

The Buyer is no longer concerned about
insurance. The lawyer wrote: :It
appears that your suggestion in paragraph
7 is a good one; that being Closing can
occur 60 days after the Agreement is signed
and that allows us to conduct proper
searches and eliminate any insurance
concerns."