To further understand why BHP Hilton is considered as the main stakeholder looking into the definition of it is vital in order to establish the claim. The legal definition of it according to Lectric Law Library's Lexicon defined stakeholder as "STAKEHOLDER - A third person, chosen by two or more persons, to keep in deposit property, the right or possession of which is contested between them and to be delivered to the one who shall establish his right to it. Thus each of them is considered as depositing the whole thing. This distinguishes this contract from that which takes place when two or more tenants in common deposit a thing with a bailee.
The duties of a stakeholder are to deliver the thing holden by him to the person entitled to it on demand. It is frequently questionable who is entitled to it. In case of an unlawful wager, although be may be justified for delivering the thing to the winner, by the express or implied consent of the loser yet if before the event has happened he has been required by either party to give up the thing deposited with him by such party, he is bound so to deliver it or if, after the event has happened, the losing party give notice to the stakeholder not to pay the winner, a payment made to him afterwards will be made in his own wrong, and the party who deposited the money or thing may recover it from the stakeholder (2007)." Also, if taken into consideration is the 57.5 percent share of the BHP Biliton. The aforementioned company is considered as the prime owner and is more likely considered to be associated with mining activity. In this case, we still have to track the stakeholders which are considered as the third party or person to keep the property which is being contested.
In the case of the erring parties between Escondida and the worker's union, the shareholders of the said mining firm could temporarily took over the operation of the company and could be regarded as the caretakers or stakeholder of the company while the workers are on strike and could also be present in the negotiating table between Esconcondida and the workers union.
As the determinants of the losses or gains of the company, then they are more than capable of being the caretaker of it while the case is being settled. Of course, one has to take into consideration that these shareholders have their parts and stocks in the company, and then they are also concerned with the welfare of the company. If they act as the stakeholder during the negotiation until the dispute has been settled, then should anything happen then they are capable of making things work for both parties by making both ends meet through their finances and bonds in which they are capable of providing the aforementioned resources.
Of all the stakeholders, definitely, it is BHP Biliton has the right above the other entire stakeholders since the said company has the most number of shares in the company. Therefore, they have the right to be the caretaker of the entire mining firm because of their contribution in the company plus the fact that it owns more than half of the share of the company.
Should this scenario arises, what are the responsibilities of BHP Biliton while the company is under dispute What the said company should do