An email stating a party is 'winding down' and 'will not be in a position to settle on the contract' constitutes renunciation even where sent in the context of ongoing negotiations about substitute arrangements, where the stated reason is financial incapacity and the renunciation is never withdrawn.
The full text is available to signed-in members, including the 3 later cases that cite this judgment.
1 of the 3 citing cases carry a classified treatment. How each court treated it is available to signed-in members.