Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC
[quote author=Avmenon link=topic=41783.msg1195225#msg1195225 date=1287037981]
[quote author=i_rushie link=topic=41783.msg1195219#msg1195219 date=1287033522]
The TRO granted by the Judge is simply a form of injunctive relief where, among other criteria, he perceives there is a real danger that irreversible damage will be suffered if the TRO is not granted with haste. As I gather the application for the TRO was brought ex parte (in the absence of the other party, or parties in this case), so he’s had no opportunity to consider the collective merits of our case, and I doubt Hicks was honest enough to inform the Judge of the High Court decision.
Once our case is presented, I’m confident he’ll see that Hicks’ arguments won’t get off the ground. Even if there was any merit in Hicks case, there’s no reason why an award if monetary damages wouldn’t be sufficient restitution, especially as he has already conceded that a sale is inevitable.
I also very much doubt he’d risk offending the principle of comity, as it would be extremely discourteous of the Judge to extend the injunction once evidence of the High Court judgment is presented to him.
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It's certain to be an e-parte order; but this has probably been calculated to be another delaying tactic.
The fact that Hicks hasnt given full and frank disclosure willdoom his application at the inter partes stage; but it is fixed for Oct 25 after administration.
My biggest fear is that I'm not sure if we can place reliable faith in a Texan court, where as I said, they're best known for executing people.
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My understanding is it can be thrown out before then. The defendants can decide to have the case heard earlier, and it's subject to immediate review, given that the other parties weren't there.
http://www.bbc.co.uk/iplayer/console/b00v6fv7/Wake_Up_to_Money_14_10_2010
12 minutes in. Very interesting.