fyds

It didn't go wrong - he just threw a stupid obstacle in the way which Floyd cleared and threatened them with contempt. yesterdays texan adventure had no jurisdiction, then or now. The only problem was that RBS have dealings in Texas which could have been made difficult and of course NESV are US based, but the texan injunction may not even have effected them in the commonwealth of Massachusetts. Our lot - all of them - just want to do it right and close down each avenue to further actions once a sale is complete.

Not so easy -constitutes a change of ownership, apart from issues with the board and RBS etc, it also implies issues with the PL, and various authorities about notification periods.

It doesn't matter what the Texas court things is or isn't tinpot. The action was filed and tried here on a british company in Britain at that level as is basic law. They have no jurisdiction as Justice Floyd said 'nothing to do with Texas'. Damages is another route they could exploit, but that won't stop the sale and given they've lost twice heavily already is unlikely to succeed. If they ever come to the UK again, yes.

Again, Mill do not own Hicks shares - they belong to Hicks.

This the real nail on head. legal avenues are now closed to them in preventing the sale.

Yes - as far as I can tell after 4pm it's game over.

Leaving it ridiculously late, arent they? Mill don't own Hicks' shares - they may not even 'own' Gillett's it seems.

Nah - all out of chickens here Tosh All he has left is to pay back RBS - though as we know, not with a refinance package as the board can and will block it.

So that's his legal avenues blown - just the money now paid in full, but not a refinance or the board can block it anyway.

It really can't - that avenue is done - ruled inadmissable. Whatever else he can think of - paying back the money is it really. He has a few hours to find £237m plus at least another £40-80m in penalties and fees. If he could, we wouldn't be going through this.

They'll be in contempt and our own lawyers will probably get it overturned before the deadline anyway. Once the 4pm mark has passed - Floyd's ruling makes it void anyway.

Warming up nicely.

I think all that's dead now mate, thanks to Justic Floyd kicking the stool away from beneath them. If they don't comply, they're in contempt. Once the Texan judge gets full wind, he'll withdraw their case.

Effectively yes. The judge has ruled he (meaning we, the UK) have full jurisdiction and the Texas injunction is therefore 'injuncted' in turn. For reasons of crossing 't's etc and the fact that NESV are US based, they may wish to wait until the 4pm deadline (if it's not withdrawn sooner) in Dallas tomorrow before proceeding just to avoid any actions against them on their home patch.

They'll have to go after Gillett personaly for it - it's him they made the loan to. Nice.

By removing the Dallas injunction or they'll be in contempt.

enough!

so far as it goes, no.

See typical Floyd - goes on a bit but often worth it

He's looking for his black cap...

No - I want to see him get so beaten down he eats his own children...he would too.

I think that's really beginning to dawn on Hicks now too.

He's just wasting his own time and money in the end.

Well, Tom - this is anudder fine mess you got me into - uh - huh!

It's what your wife uses after the weasel has finished with you.